Federal Judge Strikes Down DOL’s Overtime Rule
The federal minimum salary threshold for the Executive, Administrative, and Professional (EAP) exemption is once again $684 per week (annualized to $35,558) and $107,432 per year for Highly-Compensated employees after a federal court in Texas reversed the DOL’s increase announced earlier this year. While previous injunctions applied to specific plaintiffs, this ruling applies to all […]
Key Labor Trends to Watch as 2025 Nears
The labor market continues to adapt to various economic, technological, and social factors as we close out the year. Figures fluctuate due to these factors, and understanding the context behind them is important in making hiring and broader business decisions. It is important to note that labor figures and other key indicators are fluid; a […]
Job Growth & Wage Trends
As we enter Q4, here are some things we think you need to know! The first half of 2024 saw significant job growth, with an average of 255,000 jobs added each month, surpassing the 213,000 jobs added per month in the second half of 2023. In January, 353,000 jobs were added, primarily in professional/business services, […]
Compensation Hot Topics
The Great Resignation is over, the red-hot recruiting market has cooled a bit, and inflation is down. That’s some of the good news for employers in 2024. But don’t relax too much – compensation is still important. In a recent Compensation Best Practices Report published by Payscale, a majority of employers reported compensation as their […]
Employment Trends & Challenges for the Year Ahead
A new year means new employment laws, trends, and challenges. Here are some of the important trends we are following as we enter 2024. General Trends Uncertainty With the volatile political climate heading into the 2024 presidential race, inconsistent predictions for the economy, and escalating incidents of violence, employees are facing new challenges at and […]
EMPLOYEE GIFTS
Question: With rising costs, I want to give my employees a gift card to reward them for their hard work. What should I consider? Answer: Acknowledging an employee’s contribution to the company is almost always a good thing. Making the effort to recognize an employee’s hard work helps to reinforce their commitment to the company. When […]
NON-EXEMPT HOLIDAY PAY
Question: Do I have to pay non-exempt employees for a holiday if we are closed? Or a special rate If they work? Answer: Probably not. There is no federal law to pay non-exempt employees for holidays if they do not work or to pay a premium rate if they do work. Massachusetts and Rhode Island […]
2023 Workplace Trends to Watch
From return-to-office, which was Glassdoor’s Word of the Year, to quiet quitting, 2022 introduced us to several new labor market concepts. It’s still too early to predict what terms will define our workplaces in 2023, but here are a few labor market trends to look for as the year progresses. #1-Where Are Your Employees? – […]
Understanding Total Comp & Total Cash Comp
As strong demand for qualified workers continues to be a challenge for employers in 2023, compensation remains at the forefront for businesses trying to retain and recruit talent. Having a better understanding of compensation can ensure you spend your dollars wisely and are able to communicate the true value of your employees’ compensation with clarity. […]
Compensation Planning Basics
Understanding compensation is critical to staying competitive in today’s volatile labor market. Real wage growth is a concept that is particularly important. Real wages/income is calculated by dividing the current wage by 1 plus the current inflation rate. For an employee currently making $40,000, the individual’s real income is reduced to $36,866 when the current […]
