Simply put, a pay approach is the method an organization uses to deliver base pay to its employees. For example: job-based pay, market-based pay, knowledge/skill-based pay, and experience-based pay are all methods of pay delivery. Which one is the right one? Any of them can be a viable method, depending on the organization’s needs and […]
Tag: cost of living
The goal for a compensation program is to set a competitive wage range for a given position, and pay the people who perform that job within the salary range. Complications arise, though, when your workforce is spread from city to city, state to state, or country to country. How can you determine what is competitive pay if you have employees doing the same job in Manhattan and in Kansas City?
Technology jobs are in high demand and, as a result, they pay higher-than-average salaries. But what good is a big paycheck if it is all going to sky-high rents or mortgages? Indeed’s global research institute, the Hiring Lab, mined salary and cost of living data to figure out where technology jobs pay the most—in real […]
By Sharon McKnight, CCP, SPHR, BLR Senior Editor I can remember when a candy bar cost a nickel. Now, it’s a challenge to find one under a dollar. The cost of placating my sweet tooth, however, didn’t just leap from five cents to nearly a hundred pennies all at once. It crept up in itty-bitty […]
By Jason S. Ritchie The Montana Department of Labor and Industry has completed its annual review of the cost of living and has determined that the minimum wage in Montana will increase to $7.65 effective January 1, 2012. Montana workers earning the minimum wage will see an increase from $7.35 per hour to $7.65 per […]
By Dinita L. James Arizona’s minimum wage will increase 30 cents to $7.65 for the 2012 calendar year, making it 40 cents higher than the federal minimum wage. The increase is a result of Proposition 202, also known as the Raise the Arizona Minimum Wage for Working Arizonans Act, which was approved by state voters […]