What do employees really want from their employers? Lavish perks, ranging from shorter workweeks to signing bonuses, are currently being used by various companies to attract workers. Companies recruiting employees, however, might want to look beyond using the carrot-and-stick approach to recruit and retain talent. READ MORE
Pay streaming is about to upend salaries as we know them
Tied to the antiquated 2-4 week pay cycle, millions of Americans live paycheck to paycheck. Nearly half (42%) of U.S. full-time workers find it hard to meet household expenses on time each month, a recent survey showed. That means if an unexpected expense occurs, like a car repair, many people are forced to carry high-interest credit card debt or succumb to payday loans, which carry upwards of 300% interest. Alarmingly, there are now more payday loan storefronts in the U.S. than McDonald’s franchises. READ MORE
These are the 25 small and midsize companies offering the best compensation
Comparably just released this year's list of the companies that have the best compensation packages.
The list was based on questions involving things like raises and satisfaction with benefits.
Here are the small and midsize companies with the best compensation, according to Comparably. READ MORE
Low-wage workers are getting 'eye-popping' pay raises, Goldman Sachs says
Low-wage workers are making "eye-popping" gains in their paychecks, according to Goldman Sachs.
The bank told clients in a note Thursday that low-wage-worker pay rose 5.3% year-over-year in the second quarter. For the third quarter, the data isn't complete yet, but preliminary readings are on pace for a three-decade high of 6%. READ MORE
Why Salary Transparency Matters When Attracting New Hires
Salary is the No. 1 factor workers use to determine which jobs to apply for, a recent CareerBuilder survey found. Yet despite the fact that 54% of workers said they use salary to determine whether or not to apply for a job, many job postings do not include salary information. And those that do sometimes use false numbers to lure in candidates — but this can backfire. The survey found that the top deal-breaker when interviewing for a job is learning the starting salary is lower than what is posted on the job description, with 48% citing this as a deal-breaker.
With these stats in mind, it’s clear that salary transparency is a major factor in attracting candidates, and it may be of even more importance given the current job climate. READ MORE
It’s Been 12 Years Since Congress Raised The Minimum Wage
Congress will pass an embarrassing milestone on Saturday: a dozen years without so much as a penny increase to the federal minimum wage.
The wage floor set by the federal government remains just $7.25 per hour, well below a living wage everywhere in the country. A worker earning that pay with a full-time schedule would bring home an annual salary of only $15,000, hardly enough to cover basic living expenses for a single person, let alone a family. READ MORE