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Are Employers Putting the Brakes on Salary Increases in 2024?

Allwork

a compensation management firm, released its eighth annual Salary Budget Survey (SBS). in the United States, with some states and industries seeing higher increases. 81% in Canada) anticipate their salary budgets in 2024 to increase or remain the same as 2023. What’s going on: Payscale Inc.,

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You’re Not Alone: 54.7% Of U.S. Salaries Haven’t Kept Up With Inflation

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With nearly twice as many open jobs as available workers, and with companies struggling to meet record demand, many economists and policymakers believe that what the economy needs right now is less hiring and less wage growth. . salaries haven’t kept up with inflation. High consumer demand in the U.S.

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HR Leaders Share How New Salary Transparency Laws Have Changed Everything

Allwork

As of November 1, a law in New York City now requires employers with four or more people on the payroll to provide a salary pay range in all job advertisements. . Last year, Colorado enacted the Equal Pay for Equal Work Act — a law that requires employers to include salary ranges on their job postings. .

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As CEO Salaries Skyrocket More Than 25%, Financial Security Is Wavering For Workers

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The gap between CEO and employee salaries continues to expand, despite overwhelming backlash from low wage employees. . By 2021, chief executives at companies with the lowest-paid staff made an average of $10.6 million salaries while the median worker received $23,968, the report revealed. .

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Demand for IT Plummets as Technology Firms Shift Focus to AI

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As artificial intelligence (AI) continues to be developed at a relentless pace, many tech workers accustomed to high salaries and strong demand for their skills are facing a new reality: adapt by learning AI development skills or brace for tougher job prospects and reduced pay.

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Spain Offers To Pay Companies Trying Out A 4-Day Work Week

Allwork

If these trials are a success, this could have massive implications for a future where the four-day work week becomes the norm. The post Spain Offers To Pay Companies Trying Out A 4-Day Work Week appeared first on Allwork.Space.

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Microsoft’s Pay Transparency Policy Could Set A Precedent For The Tech Industry

Allwork

Microsoft recently announced that it would start disclosing salary ranges in the US in January 2023. . Prior to these regulations and policies, discussion over salaries was viewed as controversial. By doing so, Microsoft will directly provide a reference point for pay within the tech industry. So how should leaders proceed? .

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