article thumbnail

49% of UK organisations’ 2024 salary budgets were lower than the previous year

Employee Benefits

Half (49%) of UK organisations reported that their 2024 salary budgets were lower than the previous year, according to global advisory, broking and solutions firm Willis Towers Watson (WTW). Its Salary budget planning report was compiled by its Rewards Data Intelligence practice.

Salary 105
article thumbnail

Employers Should Check Salary Thresholds for Exempt Employees Before July 1

PayrollOrg

Employers should check the FLSA salary levels for their exempt employees before July 1 to ensure they comply with the new thresholds.

Salary 129
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

New Salary Thresholds for White Collar Exemptions Impacts States

PayrollOrg

The minimum salary level for the Fair Labor Standards Act (FLSA) “white collar” exemptions will increase in two steps, beginning July 1. This will have an impact on state white collar exemption thresholds.

Salary 104
article thumbnail

DOL Finalizes Salary Threshold for ‘White Collar’ Exemption

PayrollOrg

Department of Labor (DOL) announced a final rule to increase the minimum salary level for the Fair Labor Standards Act “white collar” exemptions. On April 23, the U.S.

Salary 104
article thumbnail

New DOL Final Overtime Rules: Quickstart Guide for Employers

There’s a new overtime salary threshold that will impact employers across the country. If you have an employee making less than $43,888 on July 1 or less than $58,656 on January 1, you’re going to have to start paying overtime. Download Paycor’s guide to learn: Which groups of employees are affected? How should you classify employees?

article thumbnail

Lego ties salaried employees’ bonus payments to annual emissions

Employee Benefits

Lego is to tie a portion of its salaried employees’ bonus payments to annual emissions from this year. That’s why, from this year, a percentage of our performance management programme for salaried employee bonuses will be tied to annual emissions.

Bonuses 105
article thumbnail

Location-Based Salaries vs. Value-Based Salaries

HR Lineup

In the realm of employment and compensation, the debate between location-based salaries and value-based salaries is gaining momentum. Location-Based Salaries Location-based salaries are a common compensation model used by many organizations around the world.

Salary 52
article thumbnail

How to Execute a Strategic and Efficient Compensation Cycle: Plan

Update your salary bands and run a compensation analysis. Download this free eBook now to make your next annual salary review process the best one yet. This free eBook will show you how to: Run a compensation cycle post-mortem and update your timeline. Build your approver chain. Set your budget. Train managers and stakeholders.

article thumbnail

How to Implement Pay Transparency: A Comprehensive Guide

With pay transparency legislation on the rise globally, it can be difficult for organizations to navigate how to share salary ranges due to administrative complexities, lack of clear job architecture, employee reactions, and more.