Each year, Xenium’s partner, PayScale surveys thousands of HR and business leaders on the workforce and compensation trends they’ve experienced in the previous year. Below is an infographic and a summary of those results.
The Lilly Ledbetter Fair Pay Act, enacted just over four years ago, intended to take on the issue of the gender gap in pay. Leleh Hassibi, of PayScale, summarizes the Act nicely in an article on January 29th.
In a post over at Ask a Manager a woman describes her difficulty in coping with her husband’s intense work schedule at a small business. She writes that “he gets calls and text messages at all hours,” is “never working a regular shift,” and is afraid to tell his boss “no” when it comes to requests of additional hours. At times he is not even compensated for these hours.
If there’s one thing employers aren’t doing enough of these days, it’s recognizing their employees. Seriously. Recent studies published in the Harvard Business Review and The McKinsey Quarterly both found that recognition tends to be underutilized when providing compensation for employees. As a result, many companies end up overspending on seminars and other programs to increase productivity when all they really need to do is to hand out a reward and a compliment once in a while.
On May 9, 2012, PayScale released its latest infographic on the gap in pay by gender. Check out the infographic below to see some of the factors contributing to the gap in pay:
Businesses who value the work their employees do, but are strapped for cash, may have a dilemma on their hands if they are looking to retain their key employees. Our first thought, as business leaders is often to reward and give increased responsibility to high-performing employees. In tough times though, it may not be feasible to “reward” those employees. Does it therefore make sense to promote without giving a raise and make up for it at a later time?