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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

With the federal government pulling back on workplace regulation, many state and local legislatures have looked to fill the gap, leading to a growing patchwork of laws for employers to navigate.; Proposed Bill Would Raise NYC’s Minimum Wage to $30 an Hour A proposed bill by New York City council member Sandra Nurse aims to raise the city’s minimum wage to $30 an hour.

Presenting this type of policy with crystal clear expectations and data can serve as a motivator for workers, said Sara Hillenmeyer, the vice president of AI and data science at compensation software and data company Payscale.

Proposed Rule Aims to Protect Workers from Extreme Heat On July 2, the U.S.

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

Like sales compensation designers at other companies, you have updated your incentive plan for this fiscal year.

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.

The report also revealed each generation’s top professional goals, which include: Work-life balance: millennials (85%), Gen X (81%), Boomers (60%);As much flexibility as possible: millennials (78%), Gen X (73%), Boomers (63%);Making as much money as possible: millennials (59%), Gen X (55%), Boomers (38%);Having a job where they can travel: millennials (41%), Gen X (28%), Boomers (16%);Owning their own business: millennials (35%), Gen X (27%), Boomers (15%);Becoming a manager: millennials (13%), Gen X (9%), Boomers (5%); This data reveals how goals shift over an employee’s career, said Julie Voges, HR consulting regional practice leader at OneDigital Southeast, and it calls on total rewards professionals to design flexible rewards programs to meet employees where they are across the different generations.

As we shall now see, both types of intervention have a positive impact.

Standards and Practices According to Holloway, director compensation structures at publicly traded companies remain fairly standardized, with most typically offering: ;Annual board retainers composed of approximately 40% cash and 60% equity, with no separate meeting fees.; ;Full-value equity awards granted based on fixed-value rather than fixed-share amounts, with short vesting periods (immediate or one year).; ;Board retainers that do not include additional compensation for committee service, except for committee chairs, who receive retainers recognizing their added responsibilities, time commitments and heightened scrutiny.; “Director compensation approaches at privately held companies are much more varied than at publicly traded companies,” Holloway said.