Articles tagged 'Compensation'

HR Basics, Legal Issues

Should Employers Keep Time Records For Exempt Employees?

time_clock

By John E. Thompson

Should an employer keep records of the time worked by employees who qualify for a federal Fair Labor Standards Act minimum-wage and/or overtime exemption?

At the risk of giving the proverbial “lawyer’s answer,” it depends. Read more…

HR News & Trends, Legal Issues

Labor Dept. Sends Proposed OT Exemptions For White House Review

Thomas Perez, Secretary of Labor

By Tammy McCutchen

Back in March 2014, President Obama ordered the U.S. Department of Labor to revise the “white collar” overtime exemption regulations.

Declaring “Americans have spent too long working more and getting less in return,” the President ordered the revision of the overtime exemption regulations with a goal of making millions more workers eligible for overtime pay.

This week, Secretary of Labor Thomas Perez announced that the Department of Labor (DOL) has submitted the proposed changes to the overtime regulations to the White House’s Office of Management and Budget (OMB) for approval. Read more…

Compensation, Rewards & Recognition

Can You Make a Case For “Unfair” Pay in Your Organization?

123RF Stock Photo

Laszlo Bock, Senior VP of People Operations at Google, has a new book titled Work Rules! hitting the market this month.

As to be expected, there’s been a good deal of news coverage, excerpts and blogs about it, including this one in Fortune with Mr. Bock’s 10 Things to Transform Your Team and Your Workplace.

Today, I’d like to call your attention to two of these. Read more…

Compensation, HR Insights

Excessive Pay Is STILL Excessive – and the Boss Still Needs Skin in the Game

overpayment

In 1991, Bud Crystal released the book In Search of Excess, a scathing commentary on executive pay.

I was a newly minted Compensation Consultant in a large financial institution at the time, and nowhere near as cynical as I am now. I read the book, but it didn’t really resonate, probably because I worked primarily with non-executive pay.

Then I was asked to complete a market analysis on the total compensation of the Chief Financial Officer. I did all my research and analysis as I would do for any other position, and shared it with my boss. Read more…

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

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…