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How to Create an Effective Compensation Philosophy

Analytics in HR

The Lilly Ledbetter Fair Pay Act of 2009 is a law enacted by Congress that strengthened worker protections against discrimination in pay. Pay mix: This consists of salary, short-term incentive (“STI”) compensation and long-term incentive (“LTI”) compensation. Components of a compensation philosophy.

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UAW Strike 2023: What Happened and What Other Companies Can Learn From It

Terryberry

These concessions were part of broader efforts to secure federal assistance for the automakers, which eventually led to government bailouts for GM and Chrysler in 2008 and 2009. Ford then rebutted, “Kentucky Truck Plant’s hourly employees earn an average income – including base wages, bonuses, and profit sharing – of $78,000 per year.

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Understanding the Gender Pay Gap: The Importance of Gender Pay Equity

UKG

On the other hand, pay equity dives deeper by looking at the inequalities that might lead to the gender pay gap, such as systemic issues, conscious or unconscious biases, race, ethnicity, sex, and ability. However, when the COVID-19 pandemic put the world on pause in 2020, the gender pay equity problem took several steps back.