Minimum Wage Increase: The Positives and the Pitfalls

Paycor

The Times, They Are A’Changin’ (But the Money’s Not). Adjusted for inflation, the federal minimum wage peaked in 1968 at $12.22 (in 2018 dollars). Yet, the current federal minimum wage has remained stagnant at $7.25 per hour for more than a decade even though the cumulative rate of inflation has risen more than 17%. Eighteen states and localities raised their minimum wages in 2018. The increase also includes Whole Foods employees.

Performance Pay for Gig Workers?

Compensation Cafe

Editor's Note: If you're interested in learning more about the gig economy, you can join Cafe contributor Stephanie Thomas, Cornell ILR Professor Susanne Bruyere and Former US Deputy Secretary of Labor Seth Harris for a livestream event from eCornell today at 12 PM ET or on-demand any time. For many of us, the gig economy is something that’s indistinct and difficult to wrap our arms around. There isn’t a lot of reliable data about this growing piece of the workforce.

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4 Questions HR Leaders Need to Ask About Holiday Workers Now

Visier

If you work in HR for a holiday hustle industry, managing staffing shortfalls and linking talent to customer satisfaction are likely at the top of your priority list right now. With an unemployment rate at a 17-year low of 4.1%, retail and delivery companies have executed a variety of tactics to land workers in a tight labor market, whether it’s through candy and movie-ticket giveaway s or voluntarily increasing the minimum wage to $11 an hour.

Visier 215

Compensation Management in the Banking Sector

Decusoft

Compensation management in the banking sector is no different. Compensation managers for the banking sector must balance the needs of shareholders, investors, and customers when creating compensation plans. . Creative Incentive Planning. What will attract the best talent?

HR Glossary of Terms

Zenefits

ATS, employee handbook, HRIS, workers’ comp … there are plenty of acronyms and terms in the HR world to know and stay on top of. Sometimes you need a glossary on hand when you’re stuck trying to remember a definition, or you’re wanting to learn some new terminology.

How to Create a Compensation Strategy: A Complete Guide

Decusoft

As a compensation manager, your primary concern should be the alignment of pay and performance. Standard wage arrangements for hourly workers or salaried administrators and clinicians vary greatly from executive pay packages. What is the pay rate for this geographic area? .

Sales Manager Compensation Plan

Decusoft

Sales managers need a balance of base salary and variable incentives that motivate them to lead their team. A well-structured sales incentive plan strategy is required to boost performance and inspire your sales force. . Strategic Incentive Compensation Plan. Hourly.

7 Ways to Keep Call Center Employees Engaged

Achievers

Your call center employees are very often the first employees your customers interact with. They are problem solvers, and they are the keys to driving innovation, knowledge, and revenue throughout your organization. The rigors of this work can lead to increased employee frustration and disengagement. According to Gallup, only 30% of the current American workforce say they’re engaged and inspired at work. According to Gallup polls, only one in three workers in the U.S.

Payroll Terms and Definitions: A Comprehensive Glossary

Zenefits

Payroll is one of the most crucial aspects of running a business — but it’s far from easy trying to learn and remember payroll terminology and jargon. We’ve got a glossary filled with the most common payroll terms and easy-to-understand definitions. Bonus.

Benefits of Compensation Analysis

Decusoft

It is important to conduct compensation data audits frequently in order to produce an equitable and appropriate compensation plan. Smart businesses understand that offering competitive pay for full-time employees is one of the most important factors in attracting and retaining top talent.

Compensation Surveys: Are They Necessary?

Astron Solutions

Finding the fairest and most motivating compensation for your team members is one of the most important jobs for HR leaders like you. However, for many organizations, the task of conducting a salary survey is tedious and often time-consuming. The use of bad market salary data.

The Best Way to Process Payroll [Updated for 2020]

SwipeClock

Or you own an existing one that is moving into the realm of employees. Payroll is one of the most important processes to handle correctly. Learn to Process Payroll Efficiently and Legally. How To Avoid The Top 6 Payroll Mistakes. First off, why don’t you have one?

New overtime rule, affecting 1.3 million US workers, finally arrives

Tsheets

The DOL’s new overtime rule takes effect on January 1, 2020. On September 24, 2019, the Department of Labor (DOL) announced the new overtime rule—set to take effect on January 1, 2020. . We’ve written about it again and again and again (20 times, to be exact) over the past four years. And if that seems like a long time and a lot of updates, keep in mind the DOL discussed the topic for over a decade. The current rule was updated in 2004.

Pay compression: What it is and how to fight it

Insperity

Yet what is wage compression exactly? What is salary, wage or pay compression? Also referred to as wage or salary compression, it occurs when there’s little difference in pay between employees regardless of differences in their respective knowledge, skills, experience or abilities. The situation can be especially troublesome when your best, most tenured employees decide to jump ship. Wage compression can hamper recruiting efforts, too.

7 Ways to Keep Call Center Employees Engaged

Achievers - Recruiting

Your call center employees are very often the first employees your customers interact with. They are problem solvers, and they are the keys to driving innovation, knowledge, and revenue throughout your organization. The rigors of this work can lead to increased employee frustration and disengagement. According to Gallup, only 30% of the current American workforce say they’re engaged and inspired at work. According to Gallup polls, only one in three workers in the U.S.

Industry Insights: Hospitality

Payactiv

We built this page with you in mind – use it as a learning tool, reference page, and more! This page is set up to give you the latest information on what’s happening in the hiring market right now, with a focus on trends and challenges faced by the hospitality industry.

Here’s What Rewards Will Look Like Beyond 2021

Analytics in HR

This is the podcast & video series for all HR Professionals and business leaders who want to future-proof their organization and learn about the latest trends & insights from industry experts, CHROs, and thought leaders. . Leveraging data in reward.

Top Five Compensation Trends from 2016

Compensation Today

Between the elections, compliance changes, and the ever-increasing competitiveness of talent markets, most of us have been on our toes all year. What trends have impacted compensation the most? In the spirit of the coming new year, let’s count the top five 2016 compensation trends! Count down the top #compensation trends of 2016! Gone are the days where companies compensate with just base pay. In some cases, the market drives pay for jobs.

How to Comply with the New Overtime Rules in 2020

Mitrefinch

Workers in the United States have long been known for their hard and dedicated work ethic. Compared to the rest of the developed world, employees in the United States work significantly more than their peers. workers put in around 70 more hours per year than their peers in Japan and an incredible 350 more hours than similar workers in Europe. While this is partly due to the lack of U.S. The U.S. What do the New Overtime Rules Stipulate?

The Best Features of a High-Performance Engagement and Retention Strategy

CakeHR

For much of the past decade, HR departments everywhere in the world have been dealing with an unprecedented challenge. In such a hiring environment, businesses no longer have the upper hand, and job-hopping has become the new normal. UBS survey highlights impact of labour flexibility, lower wages and interest rates. At the same time, businesses of all kinds have started to struggle with employee engagement. Begin With the Right Metrics.

How to Meet the New Overtime Regulation Using People Analytics

Visier - Talent Acquisition

In 2016, I shared how organizations could use people analytics to prepare for the changes to overtime pay that were set to take effect later that year. However, a federal injunction was issued against the Department of Labor (DOL) regarding the new overtime rules, halting any further action. In September 2019, the DOL announced new overtime changes are officially coming. The new rate will take effect on January 1, 2020. What are the new rules around overtime?

A Brief Guide On How To Engage Blue-Collar Workers

Vantage Circle

The term "blue-collar" refers to a type of service where jobs are often manually labored, waged, or salaried. They might not need a four-year college diploma, but most of them demand skilled employees with special training. Origin Of The Term Blue-Collar Workers.

Employee benefits: A guide on common and best benefits

Workable

So if you’re thinking of building effective benefit plans or looking to boost your existing policies, we got you covered – we present the basics of employee benefits, including types of employee benefits, common benefits per location and insight on what candidates and employees truly want: What are employee benefits? But, employee benefits can be much more than these, from training opportunities to startup perks (let’s not focus on the notorious ping pong tables, though).

Employee Turnover: The Most Common Myths/Misconceptions

Clarity Wave

Employee Turnover: The Most Common Myths/Misconceptions Most businesses think about employee turnover only after it becomes a problem. Surveys report that as economic conditions continue to recover from the Great Recession more disengaged employees may seek to change jobs over the next year. The Hay Group consultants say average employee turnover rates over may rise above 20 percent over the next five years. 4) Training Opportunities.

Talent and Performance Management Survey Summary

HR Daily Advisor

The HR Daily Advisor research team conducted the 2016 Talent and Performance Management Survey in January, 2016. Talent and performance management are some of the most important and rigorous tasks any HR professional has to deal with. Highlights of the Talent and Performance Management Survey: When survey takers were asked if they expect to face shortages of talent in areas that will impact their productivity or success in 2016, the majority (71.4%) answered “Yes.”.

2019 HR & Compliance Web Summit: Executive Summary

Paycor

Industry experts like Jennifer McClure offered actionable insights and advice on all things HR, from self-care for the HR pro to in-the-news compliance issues. If you missed the live webinars you can watch them on our on-demand webinar page. In the meantime, here’s a quick overview of each session. In today’s business environment only 20% of HR professionals interact with the executive suite. Maintaining compliance for the organization.

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

Ascentis

Over the past century, more and more women have been entering the workforce, obtaining higher degrees, and clocking in more hours. This difference in pay is what we call the gender pay gap, and its effects on the workforce and society are quite noticeable.

The Best Employee Retention Articles and Resources from Across the Web

ForUsAll

Workers looking for the door? Here are all the employee retention articles and resources you’ll need to get informed, get inspired, and get going. About: When it comes to learning about employee turnover prevention, examples are one of our favorite tools. employees are eligible for bonuses four times a year, with biannual salary reviews. This article from Forbes links them (and the natural result, employee retention) in a compelling way. HR Happy Hour.