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Developing this type of strategic peer group lends itself to an iterative two-step approach: Identify potential peer companies that meet specific selection criteria.

The HR software company analyzed payroll data from more than 400,000 U.S. businesses and found: ;End-of-year bonuses in 2024 averaged $2,503 — 2% higher than in 2023.; ;Communications industries — the highest-performing S&P 500 sector in 2024 — had the biggest leap by far, paying out 22% higher bonuses year-over-year.; ;Increases in other industries (10% in real estate, 9% in entertainment and recreation, and 8% in retail) also reflect a strong 2024 for those sectors and business owners’ optimism.; ;Bonus amounts in some service industries were down, including personal services (down 10%) and tourism and accommodations (down 7%), potentially signaling a cooling of wage growth for service workers after several years of post-pandemic wage increases.; ;The transportation and warehousing industries also saw a 10% decrease in bonus amounts, following a downturn in freight rates, demand and revenues.; “Instead of spreading bonuses more evenly, companies may be concentrating

Telework has compelled corporations to deal with empty office spaces, requiring them to reduce headcount for certain types of work.

In this model, the five characteristics of a good job are: 1) task identity; 2) task variety; 3) task significance; 4) autonomy; and 5) feedback (Hackman and Oldham 1980).

.; ;Despite workplace perceptions, 36% of millennials and 35% of Gen Z aspire to become managers.; “The perception that younger workers lack ambition is misleading.

.; The results: In the Deloitte survey, respondents from high-performing teams are significantly more likely to use AI tools in their work (78% vs. 54%) and more likely to say their experience working with AI was “very high quality” in supporting core work (36% vs. 18%).

.; In the United States, 17.3 million Americans, 11% of the workforce, identify as digital nomads — traditional jobholders and independent workers — an increase of 2% from 2022, according to a August 2023 report from MBO Partners.

Step 2: Gather Data Relative data must be collected and validated.

The award will convert to an equivalent award in, let’s call it “NewCo,” and continue to vest. 2.

Re-Examine Your Pay Ranges; To Offer or Not to Offer Compensation professionals exploring this question — and ways to keep lump-sum merit replacements equitable — in a WorldatWork Engage forum post shared various insights: ;“We move our ranges every year, say 2%, so even an employee who was at the top of the range will get a 2% base pay increase,” said Ken McLean, a senior compensation analyst at Newport News, Va.