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In Quick Reversal, Companies Are Slashing Benefits Instead of Adding Them
COMP NEWS - As companies seek to cut costs in order to shore up profits, white-collar employees are now seeing their benefits slashed again after a dramatic post-COVID period of expansion. With companies looking to cut costs in a high-inflation landscape, a bevy of...
50.6 Million U.S. Employees Quit Their Jobs in 2022. How Are Employers Fighting Burnout?
COMP NEWS - Over 50 million employees quit their jobs in 2022, signaling to employers a need to retain top talent. In order to meet the challenge, companies are providing "soft benefits." In 2022, the U.S. Bureau of Labor Statistics reported that 50.6 million U.S....
Big Six Canadian Banks Boosted Year-End Bonus Payments Across the Board
COMP NEWS - Canada's six biggest banks are united in boosting employer bonuses across the board, even as profits receded for half of them. Half of Canada’s six biggest banks reported higher profits for their 2023 fiscal year and half saw profits sink, but year-end...
Texas Law Firm Yetter Coleman Flashes Competitive Bonuses For New Associates
COMP NEWS - It's that time of the year when competitive law firms ramp up their bonus compensation to attract new associates, and one Texan boutique firm has come out swinging. Another elite boutique law firm is proving that big raises aren’t just for Biglaw! Today,...
Gen X Workers Want Different Benefits. Companies Are Answering the Call.
COMP NEWS - Gen X workers are entering the workforce with a desire for unique benefits, and competitive companies are finding ways to meet their requests. Mid-life workers want menopause support, eldercare assistance, health screenings and more. Increasingly, they're...
Percentage of Paid Work-From-Home Days Remains Four Times Higher Than Pre-COVID Era.
COMP NEWS - Work-from-home is here to stay, according to economists who note that return-to-office plans have stayed their execution over the past two years. The share of workers being called back to the office has flatlined, suggesting the pandemic-era phenomenon of...
High-Level Canadian Federal Employees Received $130 million in Bonuses
COMP NEWS - High-ranking federal employees in the Canadian government were awarded substantial bonuses between April 2022 and July 2023, according to a new report, drawing ire from some critics who say the bonuses were inappropriately generous. Federal employees at or...
Nearly a Million Unionized Americans Received Double-Digit Pay Raises in 2023
COMP NEWS - Nearly a million unionized Americans received double-digit pay raises in 2023 after a year of surging union activity, negotiations, and strikes. Nearly 900,000 Americans sitting down to Thanksgiving dinner this week will have unions – and the double-digit...
Automakers With Non-Union Workforce Race to Raise Pay after UAW’s Record Deals
COMP NEWS - In the wake of UAW's historic contract for its union workers, other automakers with non-union workforces are seeking to appease their employers with above-standard pay raises. Nov 22 (Reuters) - Car companies with production facilities in the United States...
Volkswagen Chattanooga Workers get 11% Pay Raise
COMP NEWS - Volkswagen is providing a substantial pay raise for workers at its Chattanooga, TN assembly plant. Volkswagen is providing an 11% pay raise for production workers at the automaker's Chattanooga assembly plant, the company announced Wednesday. The pay hike...
Law Firm Announces Bonus Scale Amounting to Nearly Three Times The Market Rate
COMP NEWS - A D.C.-based law firm has announced huge bonuses for its associates amounting to almost 3x more than standard market rate bonuses this year. Biglaw might not be ready to announce bonuses yet, what with a potential salary increase gumming up the works, but...
New Publishing Industry Salary Survey 2023 Released
COMP NEWS - A new salary survey on the publishing industry has been released, showing that compensation lagged behind rising inflation over the past year. Like most workers in the U.S., employees at publishing houses had difficulty keeping up with inflation last year....
Workers Are Trading Noncash Bonuses for Cash Compensation
COMP NEWS - Workers across industries are relishing an era of rising wages. But many of those newly earned hard cash benefits are coming at the expense of noncash benefits, according to data from Glassdoor. Workers may have rejoiced over big pay raises in the past two...
SullivanCotter Releases 2023 Advanced Practice Provider Compensation and Productivity Survey Report.
COMP NEWS - A new compensation and productivity survey has been released for Advanced Practice Providers, signaling that salaries and benefits in these professions are on the rise. CHICAGO--(BUSINESS WIRE)--SullivanCotter, the nation’s leading independent consulting...
