Following the release of the May 18, 2016 final rule regarding adjustments to the overtime threshold for the Fair Labor Standards Act (FLSA), organizations are working to make changes to meet the new requirements.
Living Wages in 2016 – How Do Employers Respond?
Seven months have passed since New York State’s minimum wage increased to $9.00 per hour, while the “fast food” minimum wage increased to $9.75 across most of the state, and to $10.50 in New York City.
CEO Pay Controversy
In the last few months, there’s been a lot of conversation on executive pay. CNBC news reported that in 2014, “the average S&P 500 company CEO made 373 times the salary of the average production and non-supervisory worker in 2014.” This is an increase from the 331 times the salary average in 2013.
Compensation 106: Variable Pay
The final feature in our Astronology® six part series is here! In this issue of Astronology®, we will discuss variable pay.
Compensation 105: Pay Communications
Compensation Programs and Practices 2012, conducted by WorldatWork, found that 80 percent of organizations relay pay information to their employees via brief written or oral communications.
Compensation 104: Pay For Performance
Continuing our series of compensation topics, this week’s Astronology will review the basics of Pay for Performance programs. About 71% of organizations have a formal employee performance appraisal system.
Compensation 103: Salary Structures
An important part of compensation administration is the salary structure. According to Compensation Programs and Practices 2015, 87 percent of organizations have a formal salary structure in place.
Compensation 102: Job Evaluation
The importance of job evaluation is simple. In order to create a competitive yet equitable compensation system, organizations need clear job classifications.
Compensation 101: Compensation Philosophy
The compensation philosophy is the foundation for all compensation decisions an organization makes. Developing a compensation philosophy, however, is not always an easy task.