Payscale

U.S. employers are on the brink of facing "the largest labor shortage the country has ever seen," according to a recent Lightcast report. 📉 👀 HR Dive writes that there are several factors contributing to this looming crisis: - the retirement of Baby Boomers - declining birth rates - younger generations favoring office jobs - a shrinking number of working-age adults Notably, women are earning degrees at record rates but still occupy less than 2% of roles in traditionally male-dominated fields like plumbing and HVAC, which are experiencing critical shortages. Lightcast emphasizes that employers must adapt by broadening their hiring criteria and focusing on training new hires. "The best way to make sure a worker has the skills they need for a job is to teach them those skills," the report states. Additionally, offering flexible work options, such as childcare support, can give employers a competitive edge in attracting talent. It's time for a strategic shift in how we approach workforce attraction, engagement, and development. Read the article today: https://lnkd.in/eAbDXU9S

Are you navigating the complexities of pricing niche or hard-to-fill positions? At Compference24, Alena Reva and Jody Amdal ran a session for practical guidance on leveraging diverse market data to accurately price unique roles and align them with your compensation philosophy and commitment to equity. This session is tailored for compensation professionals with established data strategies looking to refine their approach and enhance talent acquisition outcomes. Don't miss the opportunity to sharpen your skills and stay ahead in the competitive job market. If you weren't able to join us live last week, don't worry! On-demand access to all Compference24 sessions is free. Get your access here: https://lnkd.in/dUCPsjW3 #Compference24

This week, I had the pleasure of joining a group of exceptional compensation and HR practitioners at the Northwest Compensation & Rewards Forum. The focus of our discussions? Pay compression! It was enlightening to hear from Lexi Clarke, Payscale’s CPO, Ryan Fowler, CCP from Symetra and Jenni Marquez, CCP from Accolade, Inc. as they shared valuable insights and advice with an engaged group of listeners! A special shout out and appreciation for the best organizer of all the things: Jennifer Ferris, CCP, our insightful moderator. Jen, your expertise in compensation and total rewards shines through every time you speak. It's a privilege to learn from you and to have you as a friend!

The momentum of pay transparency legislation continues to build, and we're all for it! 🔍 As of October 1, 2024, Maryland will be enforcing two significant laws: the Pay Transparency Law and the Pay Stub and Pay Statement Law. Forbes reports that the Pay Transparency Law mandates employers to disclose wage ranges and benefits in all job postings, enhancing pay equity. This applies to jobs performed, even partially, in Maryland. Employers must provide a good faith pay range and a general description of benefits, including bonuses and stock options. The Pay Stub and Pay Statement Law requires employers to issue detailed pay statements each payday, ensuring transparency. This includes information such as pay rates, hours worked, and detailed deductions. Employers should review job postings, update payroll systems, and train staff to comply with these new regulations. Leveraging resources from the Maryland Department of Labor can help streamline this process and foster transparency in the workplace. Read the article here: https://lnkd.in/gmwmDhKy

Are you a compensation professional looking to streamline your reporting process? We understand the challenge of managing extensive data sets from market surveys and presenting them to leadership. 📊 💼 🗣️ Synthesizing this complex information into clear, compelling stories that resonate with stakeholders who may have limited time and understanding of compensation processes is key. At Compference24 last week, Rekha Gurnani Chowdhury and Genesis Russell took a deep dive into various reports that can save you time and effectively communicate fair pay practices to business partners and executive leadership. Whether you're market pricing for salary offers or navigating the pay increase cycle, this analysis is crucial for achieving sustainable fair pay. If you missed the live session last week, you can still get on-demand access to ALL the Compference24 sessions for FREE. Get access here: https://lnkd.in/dUCPsjW3

Today, on Latina Equal Pay Day, we confront the disparities still faced by Latina women in the workforce. Our 2024 Gender Pay Gap Report illuminates a critical statistic: Despite progress, Latina women earn 79 cents for every dollar earned by their white male counterparts. This stat not only underscores the challenges but also the resilience and contributions of Latina women everywhere. Let’s use this moment to advocate for change, ensuring equal pay for equal work. Together, we can create a more equitable future. #LatinaEqualPay #JusticeInPay Read the full report here: https://lnkd.in/gjY4aNxn

Winning the war for talent requires more than just competitive salaries. 💼 💵 One of our panels at Compference24 last week — consisting of Christine Tryba, Swati Bakshi, Paulo Fava, and Rodney Green — explored best practices in compensation, benefits, culture, and recognition. The expert panelists discussed innovative strategies and programs that can help organizations attract, retain, and engage top talent. Key metrics such as voluntary turnover, offer acceptance rates, engagement surveys, and employee recognition were highlighted to showcase effectiveness. This session was perfect for organizations with solid compensation fundamentals looking to take their strategies to the next level. 🚀 📊 You can still gain access to ALL Compference24 sessions for FREE, so don't miss out on this opportunity to gain insights and elevate your talent management practices. Get access here 👉 https://lnkd.in/dUCPsjW3

More Americans are choosing to "downsize" their careers to reduce stress. 📉 💼 TLNT.com recently spoke with Jasmine Escalera, a career expert at MyPerfectResume about this "career downsizing" trend and the way it reflects a significant shift in workplace dynamics. Escalera highlights that 83% of U.S. workers report work-related stress, with 25% citing their job as their primary stressor. This has led many to prioritize work-life balance over career advancement, even if it means taking a pay cut. For HR professionals, this presents a new challenge. As Escalera notes, "HR might well have to enter into additional conversations around offering flexibility in order to persuade people that a role isn’t as stressful as they think." The rise of career downsizing could reshape how organizations approach promotions, employee engagement, and retention strategies. Have you experienced this growing trend? How will your organization adapt in order to retain talent? Read the whole article today: https://lnkd.in/eHHnj3ND

How do you determine the right compensation for your employees? Accurate and relevant compensation data is crucial for recruiting, retaining, and rewarding your team. 📊✨ However, selecting the best data for your organization can be a significant challenge. At Compference24 last week, Michaela Leo, CCP, CBP, GRP, Brian Calhoun, Adam Murphy, and Molly Rader explored the various types of salary data sources available today and discussed key considerations for choosing the right data for your organization. This session was ideal for anyone looking to establish or revitalize their organization's compensation practices. If you missed this opportunity to enhance your data foundations and make more informed decisions, don't worry! On-demand access to all Compference24 sessions is free. Get your access here: https://lnkd.in/dUCPsjW3

Are employees working while vacationing, or vacationing while working? 🏖️ 🏢 HR Brew covered a recent survey by Perceptyx which found that 72% of employees work while on PTO. This trend, known as "workcationing," reveals a lack of boundaries between work and life, potentially leading to burnout. Emily Killham, senior director at Perceptyx, highlights three types of vacationers: - planned workcationers - unplanned workcationers - and true vacationers. Both planned and unplanned workcationers struggle to disconnect, often using personal devices to stay connected to work. Managers play a crucial role in this dynamic. If managers work during their vacations, their direct reports are more likely to do the same. HR leaders should focus on ensuring managers and employees have the space and flexibility to truly disconnect. Conducting "listening surveys" post-vacation can help identify underlying issues and inform better policies. Understanding these dynamics is key to fostering a healthier work-life balance and a happier, more productive workforce. Read the article today: https://lnkd.in/ehxwy_Hu