- Survey: CFOs Project 7.3% Increase in Wages and Salaries
- Some Walmart Managers Will Now Make More Than $600K Annually
- Indiana Senate Bill Aims to Ban Noncompetes for Physicians
- MLB Employees Ordered to Return to Office Five Days a Week
Survey: CFOs Project 7.3% Increase in Wages and Salaries
Finance leaders who participated in Deloitte’s Q4 2024 CFO Insights Survey expect their organizations to see a 7.3% increase in domestic wages and salaries over the next 12 months compared to the previous 12 months. That’s nearly double the predicted increase (3.65%) from the third-quarter survey and well above market projections.
According to the poll of 200 CFOs in organizations with a minimum of $1 billion in revenues, 72% said the status of the North American economy will be better in a year.
When asked how they felt about those prospects compared to three months ago, 59% indicated they were significantly or somewhat more optimistic — up 20 percentage points from six months ago. Only 8% said they are significantly or somewhat less optimistic about their company’s prospects. In the previous quarter’s survey, that number was 29%.
When asked how they intend to manage employee costs in the coming year, respondents said linking some proportion of compensation to performance, cited by 49% of CFOs. Hiring and promoting from within their organizations was selected by 49%, and 47% said they planned to change benefits or transfer some of the costs to workers.
Some Walmart Managers Will Now Make More Than $600K Annually
As reported by CNN, Walmart market managers now make as much as $620,000 a year as part of a broader pay raise.
According to a Walmart spokesperson, total pay for these managers, including bonuses and stock awards, will increase from $320,000 to $420,000 on the low end and from $570,000 to $620,000 on the high end.
Walmart employs more than 400 market managers who collectively oversee approximately 4,600 stores in the United States.
Last year, Walmart made changes to pay packages for both U.S. store managers and hourly employees. The company increased salaries for its store manager position, with the average starting at $128,000 a year. Walmart also changed the managers’ bonus program so store profits will play a bigger role.
Walmart also started a bonus program for loyal hourly employees — up to a maximum of $1,000 for those with the company 20 years or more.
Indiana Senate Bill Aims to Ban Noncompetes for Physicians
By a 10-2 vote, Senate lawmakers in Indiana advanced a bill Wednesday, Jan. 22, to ban noncompete agreements for physicians practicing in that state.
Sen. Justin Busch (R-Fort Wayne), the author of Senate Bill 475, said the legislation is meant to address the state’s doctor shortage. According to the Indiana Rural Health Association, the state’s rural areas have about 10.3 physicians per 10,000 residents. In urban areas, there are 20.1 physicians per 10,000 residents.
The bill would only apply to physicians hired after July 1, 2025. It would also ban compensation and incentives for physicians who refer clients to other providers in the same network.
Dr. Elizabeth Struble, who represents the Indiana State Medical Association, told Indianapolis station WFYI the bill will help physicians continue to practice in their community when their employment changes.
“If a specialist is unhappy in their current situation, they often have to ... leave their area or often leave the state in order to find new employment,” Struble said.
MLB Employees Ordered to Return to Office Five Days a Week
Major League Baseball (MLB) has ordered its employees to return to the office five days a week, according to a report from Bloomberg.
The professional sports league had been on a hybrid policy since the pandemic. The change will go into effect in February, said people familiar with the matter. The league will also have two flex days a month that employees can use to work from home.
The league joins companies like Amazon, AT&T and JPMorgan Chase who have called their employees back to the office five days a week. On Monday, Jan. 20, President Donald Trump issued a “Return to In-Person Work” memo for federal government workers.
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