Changes in overtime pay rules present an opportunity for CFOs to review their company’s payroll practices to minimize existing risk as well as future risk. Here are five articles covering the latest compensation trends that are important to CFOs.
The U.S. Department of Labor recently decided to more than double the minimum weekly salary threshold under which salaried workers are eligible for overtime pay when they work more than 40 hours in a week. Read more.
Executives at many large U.S. banks will have to wait an additional year for their incentive-based compensation to vest fully under a regulatory proposal to discourage risk-taking. Read more.
A surprisingly large number of North American employers say their merit programs aren’t an effective way of driving and rewarding employee performance, according to a new survey. Read more.
More than half (54%) of U.S.-based CFOs surveyed reported offering more money for new hires, with an average pay increase of 10%, and 36% offered the same amount. Moreover, 68% said starting pay was more than the amount offered two years ago. Read more.
Corporations reined in pay increases for finance professionals last year amid “extreme caution” over global economic conditions, with executive-level employees seeing the smallest hikes, according to the Association for Finance Professionals. Read more.
Even in Silicon Valley, companies are finding that it now takes more than a ping-pong table and free snacks to attract and retain top talent. While the economy has been recovering in fits and starts, wages haven’t budged much for quite some time, and many economists expect the trend to continue. This CFO eBook will explore the latest developments in employee compensation and benefits to help CFOs create an optimal human capital plan.
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