Last year, when preparing for 2021 and what we assumed would be a post-Covid 19 world, this article focused on the fact that most nonprofit organizations had frozen executive base pay levels and were focusing on long-term incentives.
As with our review of 2022 compensation budgeting in the last Astronology®, predictions on how variable compensation will unfold are challenging.
Current Economic Climate and Impact on 2022
2021 has been a year of surprises in administering employee compensation programs. Among the changes and challenges in 2021 are the following:
These factors have led many to rethink past and current compensation strategies as we move into 2022. According to SHRM, when planning for 2022:
Consider the future of the organization.
Coronavirus. COVID-19. These two words have been increasingly on our minds and in conversations daily. At this point, most of the world has been affected by the current coronavirus strain, COVID-19.
Accurate, relevant, and timely wage survey results help tremendously when effectively benchmarking your organization’s compensation structure. For many organizations, the task of participating in (or even sponsoring) a salary survey is tedious, and often time consuming.
This Astronology® , the third in our three-part series, examines non-profit executive compensation. In considering non-profit executive compensation, employers and Board have two primary legal concerns.
It’s that time of year again! Organizations are planning their salary increase budgets for the coming year. That process isn’t as simple as it looks, however.
In the 1970s, management theorist Peter Drucker suggested that top executive compensation should be 20 times the amount of the average worker’s pay.
We find ourselves again at the end of another year! Can you believe the 4th quarter of 2016 is coming to a close?
Prior to November 22, 2016, many in the Human Resources field had been abuzz about the enactment of the Fair Labor Standards Act (FLSA) Final Rule.