Northeast Ohio Keeping Up with National Pay Adjustment Trends

The 2013-2014 ERC Wage & Salary Adjustment survey results found an average projected pay adjustment of 2.9%- basically more of the same from 2013. The results from this local survey of Northeast Ohio employers are very much in line with national reports from organizations such as Hay Group and WorldatWork which repeatedly indicate that employers are hovering right around the 3.0% mark, much as they have for that past several years.

Read this article...

Payroll Cards Facing Legal Scrutiny

In 2013, New York’s Attorney General began investigating companies that pay hourly employees using prepaid payroll cards, with the concern that fees associated with pay card withdrawals may be insufficiently disclosed or excessive, and that the cards may decrease employees’ take-home pay which may, in some cases, result in pay below the minimum wage.

Read this article...

Demand for Technical Skill Sets Help Deliver Strong IT Salaries

Information Technology (IT) continues to be an area of exceptional growth in the job market, both nationally and locally. Using data from the 2013 ERC Salary Survey, the average median salary growth of various occupational categories within IT, as set by the Bureau of Labor Statistics, can be seen below. The positive salary growth this figure illustrates is unsurprising when two key factors are considered.

Read this article...

Pay Trends Emerge in Northeast Ohio

The 2013 ERC Salary & Wage Surveys report salary data for 9,000+ individual employees from 200+ participating organizations and hourly wage data for 7,500+ individuals from 150+ organizations respectively. This unique local market data is a key resource for employers in the local business community looking to attract and retain top talent in to their organizations in Northeast Ohio.

Read this article...

A Toolkit for Retaining Great Employees

Are you giving your best employees good reasons to stay at your organization? Retaining employees comes down to giving great employees a good reason to stay at your workplace over and over again, especially when they have another opportunity on the table.

Read this article...

Keeping Pay Adjustments In Perspective

In a 2013 overview of the state of compensation, Steve Bruce, contributor to HR Daily Advisor, makes a less than rosy comparison of where businesses stand today versus where a full economic recovery would have put businesses in terms of their compensation options. Employment overall is up and voluntary separations are beginning to increase, but for businesses looking to attract and retain top performing employees, rewarding these individuals through traditional compensation methods remains a challenge.

Read this article...

Compensation Rising for Recent Graduates

With graduation day only a few months away, the pressure is on for many soon to be college graduates in need of full time employment. This flood of new job seekers on the market come May offers employers a great opportunity to take on these highly educated, enthusiastic potential new employees- and, even better, in most cases, these new employees can be brought on board at entry level compensation levels.

Read this article...

Skilled Manufacturing Salaries Gain Ground

Despite multiple reports of optimism about Northeast Ohio’s manufacturing sector growth rate, the widely publicized quarterly economic indicator report published by Team NEO for the fourth quarter of 2012, further analysis offered by the report’s research team concedes that growth does not translate directly into job growth. The quarterly report cites data from Moody’s, placing the region above the national average for manufacturing sector growth rates. But, the researchers point out that increased production does not guarantee job creation at those same levels.

Read this article...

Executive Pay: The Power of Indirect Incentives

In a PricewaterhouseCoopers study of 1,106 individual executives across 43 countries, researchers found ample evidence to suggest that the effectiveness of executive pay hinges not only on a total dollar amount, but also on several key intangibles. Despite much focus on variable pay as a key element of executive total rewards packages, the PwC study reports that as a performance driver, variable pay is only a part of the story.

Read this article...

Receive email updates

Never miss an update. Sign up to receive weekly emails with our latest posts.

Subscribe

RSS Feed

Recent Posts

Tag Cloud

See all