Millennials employees are no longer a novel concept. As Scott T. Rollin notes in the Minneapolis Star Tribune, they’ve begun to move into middle management and other key employee roles. Coupled with employers’ worries about hiring and retaining qualified workers, the result is a mounting concern about how to compensate key Millennials.
Category: Compensation Planning
Compensation planning can be a very time consuming task. It’s vital to attracting and retaining qualified talent, but can be a bit less cumbersome when managed with a practical approach.
A new Mercer survey has found that pay budget increases remain about the same as last year—at 2.8%. However, according to a press release on the findings of its 2017/2018 US Compensation Planning Survey, base pay for certain jobs with in-demand skillsets is advancing at a far greater pace, Mercer has found.
One half of U.S. companies say their biggest challenge in complying with the forthcoming pay ratio disclosure rule is forecasting how their employees will react, according to a poll by Willis Towers Watson, a leading global advisory, broking, and solutions company. The poll also found nearly half of respondents haven’t considered how, or if, they […]
According to WorldatWork’s annual Salary Budget Survey, employers in the United States report that the average 2017 total salary increase budget is 3.0%, the same as it has been for the past 3 years. Respondents are planning for a slight increase for 2017 salary increase budgets but only up to 3.1%.
There are plenty of salary surveys available and, arguably, there’s not a lot of difference between them. Most provide a number of incumbents, a mean, and multiple percentiles. Some use number of employees to describe company size and some use annual revenue. Most are broken down by industry and geographic location. Some provide position level […]
For a second time, a Philadelphia business group has asked a judge to block the city’s ban on salary history questions, arguing that the law infringes on business’ free speech rights.
Oregon’s governor signed an equal pay bill into law June 1, adding the state to the growing list of governments adopting salary history bans.
In Missouri, it has long been settled that for a contract to be valid and enforceable, the essential terms must be definite and mutually agreed upon by both contracting parties. Without certainty in the crucial terms, there can be no mutual understanding between the parties and, therefore, no valid contract. However, a recent decision from […]
On May 11, Governor Bill Haslam signed a new law that gives private employers in Tennessee more flexibility in paying wages and other compensation. The law took effect immediately.