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Conference Board Announces CEOs Plan to Increase Wages by a Minimum of 3%

HR Digest

Businesses have been aiming to draw and keep employees by raising hourly wages relative to inflation by 0.3% Nonetheless, there are still calls for higher compensation — hourly earnings after adjusting for inflation have only gone up 1.1% growth in average union wages that resulted from recent labor negotiations.

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4 compensation strategies to respond to rising minimum wages

HRExecutive

That’s the sound of 27 states implementing minimum wage increases in 2024 or in the near term via annual indexed increases or tiered jumps. per hour for non-exempt workers. . per hour for non-exempt workers. The minimum wage in the remaining states ranges from $8.75 according to a Paycom report.

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How to Motivate Hourly Employees

Fond

An hourly employee is paid for the number of hours they work each week–unlike a salaried employee, who is paid a set wage no matter how many hours they work. This means that they are entitled to at least the minimum wage, as well as overtime pay. Hourly employees make up the majority of the US workforce.

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Employee Wellness Benefits for Your Quick Service Restaurant Workers

Payactiv

Wages, management, and scheduling are top concerns for QSR employees, based on an analysis of exit interviews and a review of text messages exchanged between employers and employees. In 2022, QSRs already cut operating hours by an average of 6.4 hours per week compared to pre-pandemic levels to compensate for staff shortages.

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Compensation Analysis: The Definitive 2022 Guide

Decusoft

Conducting compensation analysis is a lengthy, necessary project. Companies will want to ensure that their compensation packages remain in alignment with the market — otherwise, they risk losing staff to other businesses that offer higher salaries. . What Is a Compensation Analysis?

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Employee Cost: How to Calculate the Cost of an Employee?

HR Lineup

Direct Costs of Employment Direct costs are the most obvious expenses related to employing staff, encompassing elements directly tied to compensation. These include: Base Salary: The primary component of an employee’s compensation, typically determined by factors such as job role, experience, and market rates.

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Guide to mandatory overtime: Can you force employees to work long hours?

Homebase

You aren’t well-versed in mandatory overtime and you think your hands are legally tied. The fact is that employers can oblige employees to work overtime hours, and employees can be fired for refusing to work mandatory overtime. Learn more. times, their hourly wage for every overtime hour.