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Inflation Outpaces Wage Growth In All But One Industry
COMP NEWS - Over the last year, nominal wages have increased as companies compete for talent amidst the great recession. However, inflation has increased more rapidly amounting to an observation of real wages decreasing in all industries except for leisure and...
62% of Workers View 401(k) Employer Match as Key to Reaching Retirement Goals
COMP NEWS - A recent survey shows that most employees rely on their employer’s 401(k) plan for their retirement. However, many may not realize that 401(k) employer matches are not always instantly accessible. Nevertheless, company 401(k) plan matches are identified as...
NFL Player Signs Contract With Bonus Based On His Weight
COMP NEWS - Compensation in sports is largely tied to performance incentives and bonus pay. Interestingly, the New England Patriots recently included a stipulation in offensive lineman Trent Brown’s contract that could earn him $1.5 million over the next two years if...
JetBlue Offers $1,000 Attendance Bonuses to Flight Attendants
COMP NEWS- JetBlue Airways is offering $1,000 attendance bonuses to its flight attendants as long as they don’t call out of work before the month of May. JetBlue is creating this incentive in order to have enough staff to meet their high travel demand. JetBlue Airways...
Attendance Incentives Increase Employee Absence, Research Says
COMP NEWS - New research from the Frankfurt School of Finance and Management indicates that offering employees attendance incentives actually has the opposite effect, effectively reducing rates of attendance. Apprentices from 232 retail stores were assigned to a group...
March Gladness? Basketball Season Improves Employee Engagement, Productivity
COMP NEWS - Game time in the office? A survey by Robert Half suggests that employee morale and productivity are increased during the NCAA tournament season. March Madness may just be the time for employers to promote engagement and friendly competition in the...
Inflation Jumps While Professor Pay Stays The Same
COMP NEWS - According to a survey conducted by the American Association of University Professors, professor salaries have only increased by 2% this year. Due to the inflation rate being around 7%, professors are actually seeing a decrease in their salary by 5%....
Amazon Warehouse Workers Stage Coordinated Strikes, Demand $3 Raises
COMP News - Employees at three Amazon warehouses have coordinated an evening strike, demanding $3 per hour raises to combat rising inflation. Workers at three Amazon warehouses in the New York City and Washington, D.C., metro areas walked off the night shift Wednesday...
Wall Street Hands Out Biggest Bonuses Since 2006
COMP NEWS - 2021 compensation bonuses for Wall Street employees have been higher than they have been in over a decade. The average bonus for a Wall Street employee jumped up by 20%. The average bonus on Wall Street jumped 20% last year to the highest level since 2006,...
Popular Ohio Eatery Instills Service Fee, Raises Staff’s Hourly Wages
COMP NEWS - Utah restaurant Pig & A Jelly Jar recently eliminated tipping, and instead decided to add an 18% service charge onto each customer’s bill. This comes in a slew of numerous restaurants adopting the “hospitality included” (HI) pay model in which tips are...
Bristol Myers CEO Takes Pay Cut as ‘Human Capital’ Metric Drags Down Bonus
COMP NEWS - Bristol Myers Squibb’s CEO took a cash incentive pay cut that left this portion of his compensation at its lowest since 2017. While the company excelled in many financial performance measures, as many big pharma companies did during the pandemic, it fell...
Boeing Bonuses Pump Hundreds of Millions of Dollars Into WA State Economy
COMP NEWS - Boeing recently awarded its largest round of bonuses to more than 59,000 employees in Washington state. These bonuses averaged $8,000 and served to eject $485 million into the Washington state economy. More than 59,000 employees got an average bonus of...
Google Employees Are Unhappy With Their Compensation, Survey Show
COMP NEWS - Google’s annual survey, “Googlegeist,” aims to evaluate the satisfaction of the organization's employees. According to the company's most recent survey, its employees are becoming unhappy with their current compensation packages. Google’s annual employee...
Employees Lose $3 Billion a Year in FSA Contributions (and Employers Get to Keep It)
COMP News - Flexible spending account holders have forfeited an estimated $7.2 billion in 2019 and 2020. These forfeits are caused by employees who contribute but fail to spend the balance of their account before the annual deadline. More than 40% of workers with FSAs...
