Articles tagged 'Compensation'

Compensation, Rewards & Recognition

A Paycheck Is Not Enough Recognition for a Job Well Done

From istockphoto.com

One statement sure to raise my ire when discussing the Power of Thanks in the workplace is: “They get paid to do their job. That’s recognition enough.”

It’s a patently false statement. Pay and recognition serve very different needs, but they are in a symbiotic relationship when it comes to fulfilling those employee needs.

All the recognition in the world won’t help resolve an underpaid employee’s base needs in terms of Maslow’s Hierarchy. And pay raises, consistently and appropriately given, won’t meet the higher-order employee needs, either. Read more…

HR News & Trends, Legal Issues

Can Just Cashing a Paycheck Waive an Employee’s FLSA Overtime Claim?

No-overtime

By Eric B. Meyer

I’ve gotta hand it to the company in this recent federal appellate court opinion in Beaufort v. ActionLink, LLC. The company almost — soooooo close — avoided several claims for unpaid overtime.

Let me set the stage for you. Back in 2011, the U.S. Department of Labor began investigating a complaint that a marketing company had misclassified some employees and failed to pay overtime. Read more…

Compensation, Talent Management

Money is the Best Excuse (Even If It Isn’t True) for Your Employees Quitting

Illustration by Dreamstime

Citing money can be the best excuse for leaving an employer, even if it is untrue.

One survey blamed voluntary turnover on income. But when an employment agency surveys financial types on why people leave their jobs, it should come as no surprise that they chose money as the principal motivation for quitting.

Of course! These are groups who obsess about money. Read more…

Rewards & Recognition, Talent Management

What’s More Important to Employees? Base Pay or Recognition?

From istockphoto.com

What’s more to employees important: Base pay, or being appreciated for their work?

A recent survey released by Boston Consulting Group polled more than 200,000 employees around the world to create a definitive list of the 10 top factors for on-the-job happiness.

What employees really value

They found that employees value the following (in order of importance): Read more…

Compensation, Talent Management

Are Higher Wages the Guiding Strategy For Companies This Year?

walmart11

President Obama threw down the gauntlet in January’s State of the Union address, challenging Congress to raise the federal minimum wage to $9/hour, citing a rebounding economy and stagnating inequality.

The current federal minimum is at $7.25/hour, and it’s an uphill battle of red tape, political maneuvering, and competing ideologies to get it raised. However, Congress may be late to the table, as several retailers have taken matters into their own hands. Read more…

Compensation, Talent Management

When It Comes to Employee Wages, We Just Need to Do the Right Thing

Do the right thing

This pay initiative is an important part of our strategies to continue attracting and retaining the best talent in order to deliver a great shopping experience, remain competitive on wages in our U.S. markets and stay focused on our value mission,” TJX Chief Executive Carol Meyrowitz said in a statement.

Having noticed from afar the recent groundbreaking announcements that have come from major retailers in the U.S., that decision has given me cause for hope.

First Wal-Mart and now Target has, on their own initiative, decided to raise the wages of their workers. That is a good sign. I particularly liked the above statement, tying it to “attracting and retaining.” Read more…

Compensation, Legal Issues

FLSA Changes Could Make Many Retail Managers Non-Exempt Employees

flsa

By John E. Thompson

Expectations are that the U.S. Labor Department’s proposed regulations re-defining the federal Fair Labor Standards Act‘s executive, administrative, professional, outside-sales, and derivative exemptions will be released in the next few weeks, if not within days.

As we have said, these provisions will probably include:

  • A substantial increase in the minimum salary amount; and,
  • A significant narrowing of the duties-related requirements. Read more…
Compensation, HR News & Trends

New Comp Survey Finds – Surprise! – That Workers Might Want a Better Deal

Payscale

Last week, compensation solutions expert PayScale released its annual 2015 Compensation Best Practices Report.

PayScale titled its report Attack of the Out-of-Date Comp Plan (cute, huh?), because they believe:

  1. Compensation data gathered in real time (versus “aged” data) is needed to make the best compensation decisions; and,
  2. No company can afford to not understand that, lest said company find itself a victim of its own out-of-date business practices. (At least that’s what I think they believe.) Read more…
Compensation, HR News & Trends

How One Winning Actress Fueled the Oscars’ Equal Pay Moment

www.starpulse.com

In case you haven’t been on the Internet in the last 36 hours, Patricia Arquette is being celebrated for more than just her Oscar win for Best Supporting Actress in Boyhood.

During Sunday night’s live Academy Awards telecast, the seasoned performer stood up for women everywhere, making a rousing plea to take action about the notorious gender pay gap.

The problem of pay disparity between men and women in Hollywood was already in the public eye thanks to the high-profile cyber-attack against Sony last December. Read more…

HR News & Trends, Legal Issues

New York Attorney General Proposes Regulation of Payroll Cards

payroll-card

By Jason Storipan

Following his office’s 2013 investigation into payroll cards and release of a report on the issue in 2014, New York Attorney General Eric Schneiderman recently sent legislation regarding the use of payroll cards by employers to pay employees to the State Legislature for consideration and action.

A payroll card is a debit card used by employers to pay employees’ wages in lieu of payment by paper check or direct deposit. Each payday, the employer deposits an employee’s wages electronically into an account connected to a payroll card. The employee then uses the card to access the funds similar to using a traditional bank issued debit card. Read more…