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Employees more concerned with happiness on the job than salary

Despite recent unpredictable economic situations and a more aggressive job market, 68 percent of employed Americans have reported that they would prefer to take a salary cut in an effort to be employed in a position that allows them to better align their personal interests with their line of work. Additionally, almost one fourth of employees said that said pay cut could amount to 25 percent or more. The information was reported from a survey of 1,000 employed Americans and was conducted by Philips North America.  Several respondents reported that they would be willing to endure a pay cut of up to 50 percent. Although this number would have an affect on the quality of living for many, it demonstrates how important following passions and desires can be for certain individuals. Some believe that the model of getting a specific degree, finding some form of reasonable employment and just working to make a living has past. Forty eight percent of those who were surveyed said that those who are able to in ...

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Compliance with ObamaCare begins immediately

Despite the delay in the requirement mandating that mid-sized employers offer insurance to workers as a result of the Affordable Care Act, companies who currently offer benefits have paperwork to complete according to attorneys.  Companies are required to provide all employees with an explanation of benefits within their plans on the first day of coverage or on the date of open enrollment. Open enrollment periods are set to begin October 1, meaning employers don’t have much time. If employers don’t provide their employees with this information, they might face a $1,000 fine for each employee that’s receiving the benefits. Both insured and self-funded plans are required to comply. If the summary of benefits is completed incorrectly, employers might face penalties. If employers are to make any changes to the plans they offer, they are now required to issue written notice 60 days prior to the effective date of the changes. Some plans are considered grandfathered in. These includ ...

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Moderate changes in salary based on 2014 Pay Budget Survey

The annual Pay Budget Survey completed by the BLR is showing slight changes, specifically in regard to pay increases, for both 2013 and 2014. The survey collected data on various compensation topics including general increases, merit increases and rate range adjustments in 2013 as well as any planned increases in 2014. The survey also took note of the largest challenges that many employers are currently facing. The wage-related issues that those who participated in the survey are anticipating by the end of 2014 include attempting to stay level with competitor’s wage rates for 27 percent and dealing with impending budget crunches for another 13 percent. Based on the numbers released in the survey for 2013, only 18.6 percent of pay increases were general and not tied to performance. 38.1 percent of respondents reported a pay increase that was merit based for 2013. 48 percent reported no increase at all in 2013. Additionally, 60.1 percent reported that they did not receive any bonuses in 2013. In pre ...

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Leading Florida lawmakers gift pay raises to high-performing employees

When lawmakers in Florida ended the stall on employee salary and presented state workers pay increases this year for the first time in nearly a decade, leaders within the legislature also offered higher pay to their own staff as well.  The increases equaled roughly 3 to 5 percent for the majority of the employees and was based on performance evaluations and job promotions. Some, however, received up to 25 percent. Some legislatures, however, took a different approach. Speaker of the House Will Weatherford gave bonuses and increases in pay to 35 members of his staff, starting last month. President of the Senate Don Gaetz took the same approach. Additionally, Weatherford afforded 71 full-time workers with raises effective this month. Ryan Duffy, a spokesperson for Weatherford, said that the raises cost taxpayers roughly $27,000. He said that Weatherford intended to give the raises and bonuses without affecting the annual budget of the House by reorganizing and redistributing retirements. A spoke ...

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Employers begin realizing the importance of reading severance agreements

The case Allen v. Chanel, Inc. demonstrates to business owners a crucial lesson about understanding and reviewing the agreements that workers return and not making the assumption that any agreement is returned identically as it was sent out.  When Chanel pulled the plug on employee Anu Allen, the company presented her with a Separation Agreement and Release that offered severance pay of $14,940.19 among other benefits with the exchange of all potential claims. The agreement was pre-signed by a corporate representative for Chanel before Allen was given the paperwork. The release clause in the agreement read as follows: For an in consideration of the payments and benefits to be provided to you … , you …. Hereby forever release and discharge [Defendant] … from any and all claims …. Including, but not limited to, claims of discrimination and harassment on the basis of race, color … sex, sexual orientation, age … and any other legally protected characteristic ...

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