Some Companies Ditch Annual Raises and Review Worker Pay More Often

  • 📰 WSJ
  • ⏱ Reading Time:
  • 55 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

A challenge in setting wages in the pandemic, human-resources executives say, is how quickly pay is changing.

, such as using one-time bonuses, expanding benefits or adding vacation days, to help retain workers without boosting wages.

At CoorsTek, higher pay for new employees shrank the difference between pay for tenured workers and their newer counterparts, so the company now does a quarterly “compression” review. It wants to ensure that the experience of existing employees, who may have been hired in a less-competitive job market, is rewarded appropriately.

The quarterly cadence adds work for Ms. Lockridge’s team, and she has hired an additional compensation analyst and two specialists in workforce analytics. But the schedule also means CoorsTek can adjust quickly if the market softens. “If it slows down, the last thing you want to do is overspend at the beginning of the year,” Ms. Lockridge said.

The consulting and accounting giant Deloitte LLP typically raises employee salaries once a year, over the summer. Executives at the firm realized last fall they couldn’t wait that long to adjust compensation again. Deloitte U.S. conducted an additional pay analysis to study wages for its 120,000 employees, ultimately raising salaries for thousands of its employees at the end of 2021.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Missed Axie? Buy OragonX. oragonxbsc is NFT GAME Based on Binance Smart Chain. This Game launch in March 2022. Play OragonX for passive income! SC : 0x88c676fc777c225b69869aeef5d10535de1e4f5d ORAGONX ORGN ORAGONXARMY P2E

oragonx oragon orgn Buy oragonx now The next axie

2022 is the era of Dragons! 🐉 Play OragonX, get the dragon, and make money from the game! oragonxbsc SC : 0x88c676fc777c225b69869aeef5d10535de1e4f5d ORAGONX ORGN ORAGONXARMY P2E

Oragonx the next gane nft oragon oragonx oragonxarmy

Oragonx the next gane nft oragon oragonx oragonxarmy

haven't got one call yet , applications everywhere.

В. ГАЙФУЛЛИН, ПУТИНУ: ЯДЕРНЫЙ ЩИТ СОВЕТСКОГО СОЮЗА ПРИНАДЛЕЖИТ ОБЕЗУМЕВШЕЙ ЕВРЕЙСКОЙ КУЧКИ ШОБЛЫ

JUST FINISHED A LIVESTREAM🔴 MAJOR UKRAINE&RUSSIA UPDATES🙏 RUSSIA PUTS NUCLEAR WEAPONS ON HIGH ALERT👀 UKRAINE GETS 10M DONATED IN CRYPTO📈 Ukraine Ukrainian UkraineRussia RussiaUkraineWar RussianArmy Crypto NFT Bitcoin

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 98. in US

United States United States Latest News, United States United States Headlines