Payscale

Financial stress is a significant issue in today's workforce. HR Dive reports that according to PNC Bank’s second annual Financial Wellness in the Workplace Report, three in five U.S. workers live paycheck to paycheck. Additionally, 78% of employers acknowledge that their employees are financially stressed, a notable increase from 71% in 2023. Financial planning benefits have doubled, rising from 14% to 28% in just one year. However, financial stress varies across generations. Gen Z workers are the most stressed, with their primary goal being to improve their credit scores, while other generations focus on saving for retirement. Kaley Keeley Buchanan, senior vice president and head of PNC Organizational Financial Wellness, emphasizes, “The varying financial goals and priorities across America’s generationally diverse workforce shows how important it is to offer a mix of benefits that can appeal to a wide range of employee needs.” The report highlights just how crucial addressing financial wellness is in order for organizations to ensure employee satisfaction and talent retention. Read the whole article today: https://lnkd.in/grBX7xxM

In the modern workplace, compensation is everyone's business! At Tuesday's Compference24 keynote, our panel of experts — Sarika Lamont, Jessica D. Winder, and Hebba Youssef — emphasized that HR and finance need to be in lockstep. In fact, the entire company has to be on the same page — from the executives to employees — regarding compensation. Key takeaways: - Strategy Alignment: Your HR team must collaborate closely with the finance team, from the CFO to the FP&A team, to align your compensation strategy. - Transparency and Fairness: Build a comprehensive set of processes to ensure pay is transparent, fair, and equitable. - Job Architecture: Focus on building job architecture, career paths, and competitive salary bands. - Education Across Teams: Compensation understanding isn't siloed. Everyone, from TA to people ops, must understand how you determine salaries. Is your team at Compference24? There's one more great day to go and we don't want you to miss this opportunity to hear more from HR leaders shaping future compensation strategies. Register now at payscale.com/compference 🚀 #Compference24 #FutureofHR #CompensationStrategy

It's Day 3 of Compference24! 🌟 What a brilliant week it has been, and there are still many world-class sessions in store today. One of the major highlights is the leading panel of experts — including Katrina Kibben, CEO of Three Ears Media; Michelle Gyimah, Founder of Equality Pays; Annalisa Adams-Qualtiere, CPO at Skoll Foundation; and Ruth Thomas, Chief Evangelist, VP, Integrated Marketing at Payscale — who are taking a deep dive into the topic of equity in the workplace. From 10:15–11 a.m. PT today, they will be providing actionable strategies and steps for job postings, culture, and pay that will be of benefit to all HR and compensation professionals. Missed the first two days of the conference? No problem! Register today to join this great session and you’ll also gain access to ALL session recordings, giving you plenty of time to revisit the content or catch up on anything you missed. 👉 https://lnkd.in/dUCPsjW3 #Compference24 #PayEquity #WorkplaceEquity #LetsTalkFairPay

Tomorrow (9/19/2024) is the last day of Compference24. It's not too late to come join the conversation! As these attendees said, you'll get the insights and information you can immediately put to use! Bonus: Registrants get post-event access to recordings and slides from ALL panels and sessions. Register here: https://lnkd.in/dExvcZU

U.S. workers are increasingly dissatisfied with their compensation and job prospects, according to the latest survey by the New York Federal Reserve. Reuters recently reported on The Survey of Consumer Expectations Labor Market Survey for July, which revealed that satisfaction with wage compensation, non-wage benefits, and promotion opportunities has deteriorated. Only 56.7% of respondents were satisfied with their pay, down from 59.9% in July 2023. Benefits satisfaction also dropped significantly, from 64.9% to 56.3%, and satisfaction with future career path improvement fell from 53.5% to 44.2%. The declines in satisfaction were particularly notable among women, those without college degrees, and individuals earning under $60,000 per year. Additionally, 11.6% of respondents plan to find a new employer, up from 10.6% in July 2023, while 4.4% expect to lose their job, the highest in the series. Interestingly, the reservation wage, or the minimum salary workers would accept for a new job, was $81,147 in July, slightly down from the previous quarter but up from $78,645 in July 2023. Despite this increase, expected salary offers for new jobs fell to $65,272 from $67,416 a year ago. The New York Fed noted that while the reservation wage has risen 31.4% since March 2020, it is up only 8.2% when adjusted for inflation. This indicates that workers' minimum compensation requirements have increased in real terms, even as inflation pressures ease and unemployment rises. Read the article here: https://lnkd.in/e_MW3fbU

We're halfway through Compference24, and are here with a sneak peak of tomorrow's Keynote! 🔍 🎤 In Pursuit of Equity: A Fair Pay Conversation with Sophia Bush Join actor and Angel City Football Club (ACFC) investor, Sophia Bush, and Angel City Football Club Head of Community and Marketing, Catherine Dávila, as they discuss the vital pursuit of equity in pay and in the workplace, as well as essential connections between workplace belonging and psychological safety, and the power of authenticity and embracing one's whole self at work. This is a one-of-a-kind conversation you won't want to miss. It's not too late! Join us for Compference24 — Payscale's leading, annual, and FREE online conference tackling all things comp. We invite you to register today! 👉 https://lnkd.in/dUCPsjW3 #Compference24 #letstalkfairpay #payequity #workinprogress

Compference24 is well under way as we enter Day 2! 🌟 One of the MANY highlights of today's sessions, workshops, and keynotes is compensation expert and sought-after consultant Rekha Gurnani Chowdhury's presentation on how to efficiently leverage data and effectively report on compensation to business partners and executive leadership, happening from 8:15–9 a.m. PT today. Missed the start of the conference yesterday? No problem! Register now to join the remaining two days of this one-of-a-kind learning event. Don’t let a busy schedule hold you back from advancing your career. Register for Compference24 today! 👉 https://lnkd.in/dUCPsjW3

On October 24, 1975, women shut down #Iceland. They walked out of their homes and workplaces to highlight the importance of women in Icelandic society. No housework, no child care, no office work. The country came to a complete standstill. That day has been described as a watershed moment for Iceland. Today, the country ranks as one of the most gender-equal in the world. At the time of the “day off” in 1975, Iceland’s pay gap was 40% and as of 2022, has decreased to 9.7%, making Iceland one of the few countries in the world where women are paid almost as much as men. Today on #InternationalEqualPayDay we’re calling out the slow progress of women’s economic empowerment on a global scale. According to the United Nations, across all regions, women are paid less than men, with the gender pay gap estimated at around 20% globally. Despite #equalpay laws existing in many countries, roles traditionally held by women are massively undervalued. As UN Secretary-General António Guterres shared, “Equal pay is essential not only for women but to build a world of dignity and justice for all.”

"Everybody on my HR team has to understand compensation." Register now to unlock all Compference24 sessions by getting access to all upcoming live sessions plus on-demand recordings you may have missed. Sign up for free through the link below! 👇 https://lnkd.in/eJUpHT9F Check out this clip from Tuesday's 'The Future is Now: Unpacking the Urgency of Compensation Practices in Modern HR' keynote.

1,827 people tuned in to our session for Payscale today, and honestly, it was pure magic! Sure, not everyone agreed with everything we said about compensation and pay transparency - because when does that ever happen? But hey, speaking truth to power means you're always going to ruffle a few feathers. The good news? It also means we hit home for People executives who live this every day. Big shout-out to everyone behind the scenes and on-screen for making today’s keynote panel a success. Hebba Youssef, Sarika Lamont, Ruth Thomas & Heather Kruger 💜 #payscale #peopleoperations #compensation