According to the American Association of University Professors (AAUP), full-time faculty pay across higher education increased appreciably over the 2022-2023 academic year. The 4.1% year-over-year wage hike is the largest for U.S. college and university full-time faculty members in over 30 years. But inflationary pressure has significantly impacted the actual pay for these employees. Over […]
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Nevada and four Californian cities have joined a growing list of U.S. state and local jurisdictions that have announced upcoming minimum pay hikes for 2023. The cities of Pasadena, West Hollywood, Fremont, Los Angeles County in CA, and the state of Nevada have enacted laws that require all employers in their jurisdictions to increase hourly […]
As a business owner or manager, it’s essential to recognize the importance of rewarding and recognizing employees. While some rewards, such as monetary bonuses and stock options, are extrinsic, you can offer several intrinsic rewards that are often more effective in motivating and engaging employees. In this blog post, we will discuss intrinsic rewards and […]
The average US pay increase is expected to hit 4.6% in 2023, according to a recent survey from the Bureau of Labor Statistics. This increase is slightly higher than the 3.2% that was projected in 2019. It is expected to be a result of the current low inflation rate, as well as the tight labor […]
Does your company have a fully-fledged human resources department streamlined for all functions, from hiring and payroll to compliance and benefits? Sometimes, a small business is better off outsourcing employee management to a professional employer organization (PEO). However, how can a PEO benefit your organization, and how does it work? Read on for more. What […]
U.S. companies are expected to increase staff salaries in 2023 amid various unfavorable economic conditions, according to the July Salary Budget Planning Report by WTW. They’re budgeting for this under the pressure of low labor supply and the pay expectations of employees coping with a higher cost of living. Between April and May earlier this […]
After increasing by 1.3% in June, the urban Consumer Price Index (CPI) remained unchanged in July on seasonal adjustment, according to a press release by the U.S. Bureau of Labor Statistics (BLS). An indicator of spending patterns for city consumers and workers, the all-item index soared 8.5% over the last 12 months before seasonal adjustment. […]
The concept of diversity, equity, and inclusion (DE&I) is seeping into the fabric of the modern business. This set of objectives is a key to defining organizations as socially responsible. Here’s how DE&I as executive compensation is revolutionizing corporate culture. DE&I Compared with ESG DE&I incentive programs are built on the long-term pay incentive model […]
Organizations across all industries will have to raise wages for their lowest-paid workers sooner or later. Competition in the labor market and local, state, or federal mandates will make this pay adjustment necessary, and many employers are already working out strategies to comply ahead of time. However, raising the minimum wage introduces another headache—pay compression. […]
In the wake of the pandemic disrupting college campuses, California Governor Gavin Newsom has announced an ambitious proposal to allow community college graduates guaranteed admission at certain state colleges. The news that the California governor proposes a dual-admissions pathway for certain students comes at a time when many colleges and universities face extreme financial challenges. […]