SEC Proposes CEO Pay Ratio Rule

The Securities and Exchange Commission (SEC) proposed a rule in 2013, required under the Dodd-Frank Act, which would require companies to disclose a pay ratio of their chief executive officer's compensation to the median total compensation of all of its employees (for the last fiscal year).

The SEC would not prescribe a specific method for organizations to use when calculating a pay ratio, and companies would have the flexibility to determine the median annual total compensation among their employees and make reasonable estimates when calculating elements of and employees' total compensation.  In addition, in the proposed rule, "employee" is defined as any employee who is full-time, part-time, temporary, seasonal, and non-U.S; employed by the company or any of its subsidiaries; and employed as of the last day of the company's prior fiscal year.

Companies would be required to disclose the method they used to identify the median and total compensation as well as any amounts that are estimated.

Source: Securities and Exchange Commission (2013). SEC Proposes Rules for Pay Ratio Disclosure

2013/2014 Salary & Benefits Planning & Budgeting Guide

We’ve compiled a brief compensation and benefits planning and budgeting guide to help your organization make important pay, health care, and benefits decisions this fall and into 2014. The guide summarizes the latest and most important trends we’re seeing related to administering compensation, health care, and benefits, which affect your organization as it plans for 2014.

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4 Important Guidelines for Giving Pay Increases

4 Important Guidelines for Giving Pay Increases

Pay increases are an important part of a compensation system as they aim to reward employees based on their performance achievements, but your organization should make sure you follow these four important guidelines when administering pay increases.

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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.

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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.

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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.

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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.

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Occupational Outlook: A Snapshot of 2013

A recent article from Forbes.com, cited Software Developers, Accountants & Auditors, and Market Research Analysts as the three job categories with the “best” outlook for 2013. According to the report, these jobs have seen job growth rates since 2010 of 7%, 3%, and 10% respectively. In terms of the total number of positions that’s just under 140,000 individual jobs created among those top three categories, with half falling exclusively under the Software Developer category (including both systems and applications developers).

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Non-Profit Salary and Benefits Data Published

In collaboration with United Way of Greater Cleveland, ERC is pleased to announce the publication of the 2012 Non-Profit and Health & Human Services Compensation and Benefits survey results. By drawing upon both United Way’s strength as a preeminent organization in the non-profit community as well as ERC’s reputation as Northeast Ohio’s leading publisher of local workplace information and salary data, these surveys provide current and reliable compensation and benefits benchmarks to non-profits across the region.

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