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Hourly manufacturing employees at top pay will receive a wage hike of about 9% effective on Jan. 1, 2024, the company confirmed.

In EHPs, CEOs’ target total direct compensation comprises a higher portion in short-term incentives (STI) plus long-term incentives (LTI) than in the broader market (Figure 1).

How We Got Here In April 2024, the DOL, with the support of the Biden administration, issued its final rule to: Significantly raise the minimum salary for exemption as an EAP employee under the FLSA — from the $35,568 annual standard outlined in the DOL’s 2019 final rule to $43,888 beginning on July 1, 2024, to $58,656 on Jan. 1, 2025, with subsequent automatic escalator provisions.

Here are some strategies that are generally effective in navigating these types of situations: 1.

House of Representatives narrowly passed H.R. 1 , labeled by President Donald Trump and his administration as “The One Big, Beautiful Bill”.

In fact, a 2024 survey by the International Foundation of Employee Benefit Plans found that 20% of organizations indicate a utilization rate of less than 1%, and another 50% indicate utilization between 1% and 5%.

Benefits of Belonging The KPMG survey found 87% of workers said friendship-enabling work cultures are crucial for talent retention , and 1 in 4 cited increased productivity and motivation to go beyond job requirements as the leading benefit.

; We have decided to shed light on the most innovative components of Vincit's total rewards system: pay transparency, peer-based decisions and horizontal career paths (see Table 1).

Read the Full Report - Member only access Read the Full Report - Member only access 457 participating organizations 45% of participating firms use SPM-specific technology 19% budget more than $1 million annually to administer sales compensation programs 17% of responding organizations are manufacturers Thank You for Being a Member Get the most from your membership today!

Data from Jan. 1, 2023 to Jan. 1, 2024.