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California employers have until May 8 to submit last year’s pay data to the state. The reporting portal opened Feb. 1.
California law requires private employers with 100 or more employees and/or 100 or more workers hired through labor contractors to submit information annually on pay and demographics. READ MORE
Imagine this: a bustling city with the noble intention of ensuring its workers earn a 'fair and livable wage.' Here, amidst the evergreen landscape and tech-driven economy of Seattle, a recent ordinance was passed with the aim of increasing wages for food delivery drivers working for platforms like Uber Eats and DoorDash. Yet, despite its intentions, the city now stands as a living case study in basic economic principles, revealing a narrative that's as compelling as it is cautionary. READ MORE
California’s minimum wage is already one of the highest in the nation at $16 per hour (although Sacramento’s efforts pale in comparison to those of cities and towns across the Golden State, which have created a patchwork quilt of over 40 different minimum wage obligations up and down the state). Now, as we have previously reported here, the rate is set to increase by another 25 percent to a whopping $20 per hour for fast food employees on April 1, 2024—April Fools! … except not. (For those watching at home, you may recall that rate increased to $16 per hour just a month ago on January 1st.) READ MORE
Over the six years that Achievers Workforce Institute has researched workforce trends and job-hunting motivators, career progression and flexibility have remained the top reasons for employees to search for a new job. This year’s Engagement and Retention report marks the first time that global workers say compensation is the number-one reason they will job hunt. Caitlin Nobes, lead workforce analyst at Achievers, explains that this makes sense in the context of ongoing inflation and cost-of-living crisis.
“Workers no longer have the luxury to prioritize flexibility and career over salary, as AWI finds that 71% of workers either struggle or must budget carefully to make ends meet,” Nobes says. “It’s more important than ever to understand and address employee economic challenges and concerns, so financial wellness will help improve overall employee well-being.” READ MORE
Just over two years ago, the New York City Council passed a bill that would require most employers in the city to include salary information on all job postings, an effort to mitigate persistent pay disparities that often have an outsize impact on women and people of color. The law was met with swift pushback from corporate leaders and HR professionals, whose hand-wringing led lawmakers to revise the language of the bill and delay enforcement by nearly six months, until November 2022. READ MORE
Coca‑Cola sells around 2.2 billion drinks servings daily across more than 200 brands. In 2022 it had a carbon footprint of 65 million metric tons, 88% of which was in its value chain. The company aims to reach net zero emissions by 2050 and has a number of other sustainability goals including ones for packaging, water use and sustainable agriculture.
Bea Perez joined the company in 1994 and was appointed as its first chief sustainability officer in 2011. At the start of this year, she was promoted to executive vice president with global responsibility for sustainability, communications and strategic partnerships. READ MORE
Retaining key management at a distressed company in the midst of an out-of-court restructuring can be necessary for the success of the restructuring. To realign incentives, private credit lenders need to consider reloading and restructuring equity awards, retention bonuses and change in control payments to maximize the possibility of recouping their investment and promoting future profitability.
Though every out-of-court restructuring raises different issues, creditors taking the keys to a distressed company must: (1) identify talent for retention through the restructuring process and continued retention by the post-closing organization; (2) assess the efficacy and potential liabilities of existing compensation arrangements; and (3) structure new incentive compensation programs that are designed to encourage the repayment of debt and growth of the company after the restructuring. READ MORE
Average starting salaries for graduates in the college class of 2024 have surpassed projections reported for the class of 2023, according to data from the Winter 2024 Salary Survey released today by the National Association of Colleges and Employers.
“Although the overall hiring projection for class of 2024 bachelor’s degree graduates is down slightly from last year, the increase in salary projections across the board reported in our Winter 2024 Salary Survey indicates healthy demand for this year’s class,” Shawn VanDerziel, NACE president and CEO, said. READ MORE
In 2017 Tesla’s market capitalization hovered around US$50 billion and it was the U.S.’s most shorted stock: the market was betting decisively against Elon Musk. But by October 2021, and on the heels of a performance-based equity-compensation plan awarded by the Tesla board to Musk and subsequently approved by shareholders in March 2018 (the Plan), Musk propelled Tesla to stratospheric valuations exceeding US$1 trillion. READ MORE
While six figures represents a respectable salary in most of the U.S., $100,000 won't get you very far in big cities like New York, where the cost of living is extremely high.
The purchasing power — money's value in terms of how much it can buy you — of a $100,000 salary dwindles in places like Manhattan and San Francisco, relative to more affordable U.S. cities. READ MORE
Management teams and compensation committees have long pondered how to establish credible financial targets for incentive structures that not only align with stakeholder interests, but importantly, also serve as a powerful behavioral tool to drive performance. READ MORE
Median pay for directors rose 4% in 2023 — up from the previous year’s increase of 2% — according to a new report from the National Association of Corporate Directors (NACD).
The 25th annual 2023-2024 Director Compensation ReportOpen in a new tab, produced in collaboration with consultancy Pearl Meyer, was based on a robust analysis of director compensation trends and practices and nonemployee director compensation across 1,400 companies of various sizes and spanning 24 industries. Researchers drew from information found in proxy statements and other Securities and Exchange Commission filings. READ MORE
While many people take on jobs for reasons other than purely money, salary is a determining factor for most people. Salaries on paper don’t necessarily reflect the actual purchasing power of that income, though, as cost of living varies widely from state to state.
However, taking a long look at the highest-paid profession in your area can tell you a lot about what really matters to people and what opportunities are best available in a given state or region. READ MORE
Average salaries and wages in the United States have been increasing year after year, but the landscape looks different depending on a range of factors, from where you live to how old you are.
If you’re wondering how your earnings compare to the rest of the U.S., as well as others in your state, we’ve crunched the official numbers to produce a comprehensive breakdown of average salaries in the country in 2024. We’ve split salary data by age, race, gender, occupation, state and educational background and analyzed the results to see who earns what in the U.S. READ MORE
The evolution of executive compensation has been influenced by several factors, including:
Market competition for executive talent
Increased size and complexity of companies
Legislative and regulatory changes
Investor and proxy advisory firm policies
Calls for including non-financial incentive metrics based on environmental, social and governance objectives.
Critics of executive pay have pushed through a number of initiatives designed to address perceived concerns with executive pay. READ MORE
California lawmakers butted heads during a U.S. Senate debate over how much they would hike the federal minimum wage in response to the nation’s affordability crisis.
By far the most dramatic call during the Feb. 12 debate came from Rep. Barbara Lee, a democrat, who wants to see the federal minimum wage hiked up to $50 an hour.
That is almost seven times the federal minimum wage of $7.25 per hour and more than three times the California minimum wage of $16 per hour. READ MORE
More than half of the 16,000 respondents in a global survey said they would take a 20% pay cutOpen in a new tab in exchange for a better quality of life.
Those numbers in a Ford Motor Co. surveyOpen in a new tab were higher among younger generations, with 57% of Gen Z employees and 55% of millennials globally saying they would take that cut. Similarly, in the United States, 56% of Gen Z respondents and 60% of millennials were willing to exchange pay for better quality of life. READ MORE
On March 11, employers will need to start applying a new rule from the Department of Labor (DOL) when classifying workers as employees or independent contractors. The deadline is fast approaching, and as employers prepare to meet it, they may need to consider several factors — including those issued by other agencies.
When working to comply with the new rules, there is an incentive to get it right from day one. Starting March 11, employers that misclassify independent contractors can be liable for back taxes from that date forward, said Matt Fuhrman, founder and CEO of Core Group Resources, a global staffing company. READ MORE
When it comes to sales compensation, the days of “set it and forget it” for a year have come to an end. While consistency in strategy is undoubtedly crucial for long-term success, the ability to adapt and provide flexibility in compensation plans is emerging as a powerful catalyst for boosting motivation and driving results. READ MORE
Variable compensation is the largest sales expense for most businesses, averaging roughly 40% of total sales costs. It’s also incredibly complex and, without the right optimization strategy, can end up detracting from profits instead of efficiently driving more revenue.
For most companies, offering an effective incentive compensation program without spending more than necessary is a delicate balancing act. We all want to motivate our go-to-market teams to hit revenue goals, but don’t want to prioritize bonuses over the bottom line. READ MORE