Posts Tagged ‘compensation’

The Politics of Fair Pay: Revisiting the Wage Gap

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Pol of fair play #3Fixing the wage gap (even for organizations committed to its eradication) is no simple task.

Last April the country celebrated (read that word with great sarcasm) “equal pay day”, the day that women had to work to in 2014 to be paid as much as men were paid in 2013. Equal Pay Day inspired legislators to push for a vote on the Paycheck Fairness Act that fell short of Senate consideration last April by just six votes.
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Filed under: PSX Articles



The Right Track

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In the face of all the recessions since 1980, employment numbers have simply not bounced back to where there were previously. We need to face the fact that certain jobs are not coming back. Whether they have been sent overseas to cheaper workforces or they have been automated, some positions, most of them less skilled, are gone forever. But it’s not just jobs like cashiers and bank tellers that have been automated or manufacturing jobs that have gone overseas, it is lots and lots of middle level management positions at large companies that have disappeared as well. While this is not good for many Americans, it may be good for business.
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Filed under: Expert Perspective - Organization Development



The Best Compensation Programs are Those Most Frequently Examined

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Expert Perspective from Grahall’s OmniMedia Editorial Board

Kyle Stock was a little all over the place with his February 11 blog in the Wall Street Journal Jobs Report: Wall Street Continues to Tinker With Pay but we thought two points that he made were particularly worth examining.  

Stock writes: “… with the darkest days of the crisis two years gone by, executives are still tinkering with pay policies.”  To which we say, duh. 

“Tinkering with” or at the very least deeply examining pay practices is exactly what needs to be done on a very regular basis and most importantly when economic conditions are changing.
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Filed under: Expert Perspective - Rewards



The New Year’s Resolutions HR Should Have Made (Note: there is still time!)

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Expert Perspective from Grahall’s OmniMedia Editorial Board

Of course, we are technically three weeks into the New Year, but there is still time to take stock of your HR plans and consider what steps you can take to make the most of the opportunities for and dodge the threats to your valuable human resource assets.

We can’t predict the future and many would say there are plenty of unknowns about the employment market for 2011, but one thing is for sure, the US is slowly recovering.  According to a January 14, 2011 article by Economics Writer Jeannine Averaa, published on Yahoo (Industrial production rises by most in 5 months) “Overall industrial activity has risen 11 percent since hitting its recession low in June 2009. But it is still 6 percent below its peak reached in September 2007.”   The article continues, quoting Jeffrey Lacker, president of the Federal Reserve Bank of Richmond, saying: “recent economic activity suggests the economic recovery is through its soft patch… [with] stronger growth this year, between 3.5 percent and 4 percent.”

Ron Scherer, staff writer for the CS Monitor writes in his January 7, 2011 article (Unemployment rate drops to 9.4 percent, but little cheer in jobless report) “The US economy finished 2010 with only lukewarm job gains [and]…  the unemployment rate fell from 9.8 percent to 9.4 percent – its lowest level since May 2009, which partially reflects fewer people actively looking for work.”

Discouragement on the part of job seekers isn’t surprising since, according to the article: “From the start of the recession in December 2007 to its end in June 2009, the US economy lost between 6 million and 8 million jobs. In 2010, according to the Bureau of Labor Statistics, the economy gained only 700,000 jobs back after not adding any jobs in 2009.”

So what does economic recovery with stubborn unemployment mean for HR? Simply that your BEST employees remain key targets for recruiters.   If you haven’t taken the necessary step yet to retain these individuals, you must get started, NOW.  They first fundamental step in the process, which is often overlooked, is to determine which positions and which people are key to your company’s success.  As we said on our blog When the Going Gets Tough Keep the Best From Going , first identify the key roles and those people who contribute most to the bottom line, then create the infrastructure that supports, develops, nurtures and appropriately compensates these individuals.

High unemployment coupled with the fact that many companies have had to rein in incentive program, raises, and bonuses in order to survive give recovering and growing companies the opportunity to upgrade talent without over spending. At the same time a company identifies its key positions, it must determine if the individuals holding those positions are top talent.  If not, this jobs market can offer the chance to improve key talent in critical positions while controlling compensation and recruitment costs.
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Filed under: Expert Perspective - Organization Development



Get Going Whether Times are Tough or Not: Manage Headcount Regardless of the Economy

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Expert Perspective from Grahall’s OmniMedia Editorial Board

The Great Recession, Economic Recession, Economic Crisis, or whatever you want to call it has (as Robert Samuelson said in an article for the Washington Post: The Great Recession’s Stranglehold)  “…changed American psychology, politically, economically and socially.”  Not only have individual psyches been impacted, but also the “functioning psyche” of companies changed as a result of the dramatic and persistent downturn.     These changes will certainly be long term and very possibly permanent. 

Many companies have weathered the challenges of the economic downturn by focusing on the bottom line: carefully evaluating expenditures to ensure the greatest ROI, outsourcing and off shoring non-essential services, reducing headcount and utilizing contingent and temporary workers.  These adjustments have helped many companies stabilize and even increase profits in these difficult times.    The question remains why did it take the most significant financial crisis of the past 70 years to get companies to take these logical steps? 
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Filed under: Expert Perspective - Organization Development