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Katherine Lin quit her civil service job in the southern megacity of Shenzhen in July after her 15,000 yuan ($2000) salary dropped by a quarter, bonuses were scrapped, and managers hinted at further downsizing. “Some departments chose to either cut salaries by 30% or fire people in response to cost-cutting policies,” she said.
The gap between CEO and employee salaries continues to expand, despite overwhelming backlash from low wage employees. . Within a year during the pandemic, on average CEOs gained “29% raises while their median worker pay fell by 2%,” the Institute for Policy Studies (IPS) found. Things may get worse before they get better.
employers list salary ranges in job postings in response to recently passed pay transparency laws, fewer people are submitting applications without first knowing what they pay. Pay transparency laws aim to promote fairness and reduce pay disparities based on factors like gender, race, and ethnicity. As more U.S.
One option is to consider developing a policy that dictates when you’ll contribute, and sharing the terms of that policy when asked. 2: Lack of salary transparency You’re applying for a new role and the application asks you to list your salary requirements. In my view, salary transparency is a must ,” Holman says. “It
A 2020 Stanford University study revealed that remote workers were 5% more productive than office-bound counterparts. A survey of 3,000 workers at leading companies like Google, Amazon, and Microsoft discovered that 64% would prefer permanent telecommuting over a $30,000 salary increase. By spring 2022, this figure rose to 9%.
The future of work would look dramatically different without them, and business leaders are sounding the alarm that their removal would change everything from the protection of trade secrets to hiring practices, salary ranges, employee turnover, career trajectories, advertising practices, and more. . How Leaders Can Prepare .
75% of women consider a company’s maternity and family leave policies when applying for jobs . Studies have found as recently as 2020, women still made only 84% of what men earned. It can also mean disclosing all organizational salaries – from C-suite to junior staffers – either internally or to the greater public.
In a 2024 survey conducted by the Bipartisan Policy Center, 57% of men between the ages of 20 and 54 said the main reason they weren’t working was due to a personal health issue. More women in the workforce can mean fewer job opportunities and, in some cases, lower salary options for men—which seems to be a barrier for them.
citizens remote work opportunities are now at their lowest point since 2020, but demand for these positions remains extremely high. Four Examples: Barbados: The country’s initiative , which was announced on June 30, 2020, has approved 400 digital nomads in the past year — primarily from the United States.
The pandemic added additional obstacles for parents, with just under half of moms (45%) “not actively working” after the pandemic hit in April 2020, according to the Census Bureau. For some parents, having more than one child may be when childcare becomes more costly than their salary or wages can accommodate.
in 2020, according to the “Missing Pieces Report” by Deloitte and the Alliance for Board Diversity. Or how, according to a 2020 study published by AnitaB.org, women make up just under 29% of the tech workforce. Plus, he earned an annual salary roughly $4,000 higher than Jennifer’s for the same work in an entry-level lab position.
Make no mistake – a workplace revolution is happening right now and these types of conversations, decisions, and new policies are being formulated right now. The truth is, that even before the Covid-19 pandemic that sent thousands home to create in-home offices in March 2020, the workplace was already – quite literally – in motion.
These include high income men in their 30s and 40s who not coincidentally are also those most likely to work for profitable companies who are inevitably those most likely to be introducing remote work policies. Even then, remote work was unmistakeably class-based. A new feudalism.
Reports and Resources Intuit 2020 Research Report Todays Hobbyists are Tomorrows Hobbypreneurs Homepreneurs: A Vital Economic Force Research Brief - Small Business Credit Outlook The Economic Stimulus Package: Whats in it for Growing Businesses? Carolyn is leading the coworking study and Steve is a member of the project team.
The biggest gaps will be in compensation, investment in professional development training, and policies around bullying and sexual harassment. Base salary is only one way to earn money. Policies around bullying and sexual harassment?—?Workplace Policies around cameras on or off will need to be created and refined.
They will be unnamed for several reasons, but certainly one of them is due to the lasting trauma and fear over the events of May 25, 2020 when the murder of George Floyd happened in Minneapolis and brought issues of systemic racism to the forefront of American conversation. Ruth Bader Ginsburg. It was to me a treacherous kind of gaslighting.
That includes remote work: job postings for tech positions that specify remote work continue to rise with a year-to-date rate of 34% compared to 27% in 2021 and 22% in 2020. Another study examined more than 1,000 MBA graduates of the same university to assess their career progress and salaries.
Several business hubs like New York, California, London, Massachusetts and so on have brought about regulations like banning the practice of asking for salary history before hiring or bringing into effect The Equal Pay Act as discussed above. Recruiters and hiring managers have one of the biggest roles to play in preventing this.
The Fed last month launched its policy easing cycle with an unusually large half-percentage-point interest rate cut, the first reduction in borrowing costs since 2020. The Fed’s policy rate is now set in the 4.75%-5.00% range, having been hiked by 525 basis points in 2022 and 2023. last quarter after advancing 0.9%
According to the Economic Policy Institute , the CEO-to-worker pay ratio in the U.S. skyrocketed from 20:1 in 1965 to over 350:1 in 2020. The demand for top talent in fields like tech, finance, and medicine is already high, and companies often use large salaries or performance-based bonuses to attract and retain these individuals.
While confidence is down, its still well above the depths of despair experienced during the tough years of 2020 and 2022. growth could pick up in the second half of 2025, fueled by favorable fiscal policies and potential interest rate cuts. On average, salaries rose by 4% in 2024, a slight dip from the 4.6%
While more employers are including salary details in job listings helping to create a level playing field remote work opportunities have dropped over 20% from their pandemic peak. Family leave policies also play a key role in helping women remain in the workforce, but these benefits are still rarely mentioned in job postings.
But the PMI’s measure of prices charged by companies rose, potentially worrying the Bank of England’s Monetary Policy Committee (MPC) which is watching for how employers respond to the higher social security contributions that they must pay. Other recent surveys have shown a drop in hiring intentions by employers.
. “It’s the move fast and break things approach, without really thinking through the implications of a range of different choices you are making,” said Pam Herd, a professor of social policy at the University of Michigan. ” Trump and Musk have insisted their goal is to make the U.S.
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