Employees who switched companies used to earn roughly 10 to 20 percent more than those who stayed with one company. Not anymore. The median pay increase for workers switching jobs sank substantially to 4.8 percent last month from a high…
Category: compensation
Pay transparency is exposing your pay compression problem
Many employers in 2025 are still waking up to a vexing pay issue: pay compression, made more troublesome by pay transparency laws. Pay compression occurs when companies give higher-than-normal wages and salaries to new hires, often during times of labor…
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Increasing health care costs lead employers to seek new options
The cost of US health care benefits provided by employers are predicted to increase in 2025 by about five percent, after a decade of averaging three percent annually, according to the Survey on Health and Benefit Strategies for 2025 by…
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Companies are planning smaller pay raises in 2025
According to three compensation surveys, US employers are planning slightly smaller pay raises in 2025, between 3.5 percent to 4.1 percent, which is below the average 4.1 percent salary increase given in 2024, and the 4.5 percent increase in 2023…
Easy solution for allowing employees to unplug while on vacation
The July 4th holiday traditionally marks the halfway point of summer (summer break from school for the kids) and is a time of family picnics, BBQs, and fireworks celebrating our Independence as a nation. Sadly, The new research from growth…
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Hot hiring numbers belie the need for strong HR practices
The hottest issue in HR is overcoming the current labor shortage, which exists despite the last month’s hiring boom, and presents troublesome issues for CEOs and CHRO leaders. Last week’s US Department of Labor (DOL) job report showed a shocking…
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Employers should expect higher health care costs in 2024
Consulting companies with expertise in benefits are projecting that employers should expect higher benefits increases in 2024 — in the range of 5.4 percent to 7 percent. The days of three percent benefit increases and shifting costs to employees are…
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Employers are planning on a 4 percent pay increase in 2024
Several surveys show that employers are planning on a 4 percent pay increase in 2024, down from the 4.4 percent delivered in 2023 and up from 3.1 percent in 2021, which was the approximate pay increase percentage for several years…
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High Salary Increases to Continue into 2023
Updated on September 27, 2022 Three national human resources professional organizations have released their predictions of salary increases for 2023. Their results show that while recruiting and turnover are expected to ease slightly, high salary increases will continue into 2023.…
Are you ready for job posting pay transparency?
California may join Colorado in requiring companies that post jobs to disclose hourly pay rates and salary ranges. Washington and New York states may soon follow. Fortune 1000 companies frequently follow the trends of large states like California and New…