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In an economic landscape marked by rising inflation, businesses are facing new challenges in managing employee compensation. The delicate balance between maintaining financial stability and ensuring employee satisfaction has never been more critical. For business managers and HR professionals, understanding and adapting to these changes is not just a necessity but a strategic imperative. Here […]
Legislation such as banning inquiries about candidates’ salary histories and requiring pay ranges in job advertising is forcing employers to become more intentional about their compensation plans. These new laws are designed to shrink the existing pay gap between male and female employees and to prevent disparate impact on candidates who belong to protected classes. […]
HR Daily Advisor’s 2023 Employee Benefits Week is well underway and it doesn’t stop with our latest Faces column. Despite high-profile layoffs and an increased unemployment rate, the current job market may be tight but still robust, as candidates continue to seek new opportunities. Benefits and compensation continue to be not only a hot topic but […]
As digital natives, Gen Z workers have the potential to bring unique skills and valuable perspectives to the organizations where they work. Having experienced significant challenges at a young age, including the COVID-19 pandemic and entering the workforce during a period of considerable uncertainty, Gen Zs possess a distinctive combination of resilience and empathy that […]
Income inequality is one of the most impactful and persistent sources of broader inequality in the United States, with women, Hispanics, and African Americans earning considerably less than white and Asian men. To address this problem, jurisdictions around the country have turned to pay transparency laws, which require employers to share pay information with job […]
Since the start of the new year, many states have introduced pay compliance laws. As a result, companies are now faced with the difficult task of defining their compensation with clarity and making critical decisions about how pay ranges will be defined within their personnel budgets. Although it’s a tough job, there is a silver […]
With the tight labor market impacting the country for the past couple of years, it’s not uncommon to see signs advertising job openings along with the starting pay and even sign-on bonuses. Despite the increased prevalence of such job ads, the reality is that there has traditionally been very little pay transparency, at least in […]
Since November 1, 2022, New York City employers have been required to include pay ranges in job postings. The new citywide pay transparency rules have reignited a national conversation around whether such legislation truly helps companies keep and attract talent. While pay transparency laws will also go into effect in Colorado, California, and Washington state […]
Many of us have worked in a workplace that didn’t talk openly about pay. Employees didn’t want to disclose their salaries for fear their peers would think they were over- or underpaid, and employers were more than happy to keep quiet. (Some even issued gag orders.) All that is changing—fast. New laws from bellwether states […]
As the United States navigates a historic labor shortage, it’s critical for employers to adapt to the changing employee benefits landscape and compensation demands. Employers must understand that today’s jobseekers are evaluating companies differently, and the kinds of benefits and wages that will attract them are changing, as well. According to beqom’s 2021 Employee Expectations […]