How Employers Are Stepping Up to Combat the Coronavirus Crisis
If you are an employer, you are probably wondering what organizations like yours are doing to combat the coronavirus pandemic as well as what steps you should be taking to safeguard the future of your...
View ArticleHow to Boost Employee Morale with Pay Communications
When times are tough, transparent communication is essential to keep morale high, especially around compensation. If you need employees to buckle down, do more with less, accept lower wages, relinquish...
View ArticleWhy Compensation Planning Matters More Than Ever Right Now
The coronavirus pandemic has upended 2020 business plans. With social distancing forcing people to stay home, many businesses have had to shut down. Furloughs and layoffs have rippled across the...
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What is the Current State of the Economy and What Does it Mean for Compensation?
Recently, we posted about what employers are doing to combat the coronavirus. This included news about wage increases for grocery store clerks, drivers, and other jobs experiencing a surge in business,...
View ArticleInsights from PayScale Leadership on How to Navigate Uncertainty in the...
In times of uncertainty, we have to come together as a community. In our webinar last week, PayScale executive leaders, including CEO Scott Torey, CFO James Redfern and CMO Adrianna Burrows, offered...
View ArticleCompensation Strategies for a Bad Economy
Compensation strategies for a bad economy are important when a recession is looming. Many companies will modify their compensation and benefits plans during an economic recession in an effort to save...
View ArticleFree Salary Data Now Available for New and Existing Customers of PayScale...
Free salary data appeals to many businesses, but in these times of social distancing when many businesses are facing uncertain economic conditions, it is even more critical to be data-driven....
View ArticleCompensation Strategies That Work in a Down Economy
If you’re hoping for a magic formula for compensation strategies that work in a down economy, you’re going to be disappointed. This isn’t to say that compensation strategy isn’t important right now....
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How PayScale Compensation Data Helps Employers Manage the Workforce
Last week, we announced a free offering of our Crowdsourced and Company Sourced compensation data to new and existing customers of PayScale MarketPay. This week, we hosted a live webinar with...
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How to Survive a Recession: Should You Freeze Pay or Reward Performance?
We’re not officially in a recession yet, but the writing is on the wall. A recession is defined as two consecutive quarters of negative economic growth and it has barely been two months. Still, with...
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Which jobs have seen the most wage growth and which the least?
The results are in. Analysts have been guessing how much the US GDP has fallen as a result of the coronavirus pandemic for weeks, but we finally have the answer. The U.S. Bureau of Economic Analysis...
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For National Nurses Day, We Looked at Nurses’ Wages in 2020
Today, May 6th, is National Nurse’s Day. With the coronavirus rampaging through the United States, nurses have been more vital and more in need of appreciation than ever. PayScale recently analyzed how...
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Hazard Pay, Pay Cuts, and Reduced Hours in the Wake of Covid-19
Since the outbreak of the coronavirus pandemic, we have been getting a lot of questions about how employers are addressing the situation, particularly in regard to reduced hours, pay increases (or pay...
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Unemployment Tops 14.7 Percent in April. What Does it Mean for Compensation?
The unemployment rate for April was just announced today, reaching 14.7 percent as 20.5 million people lost their jobs. Economists have been speculating about the unemployment rate for weeks. When 3.3...
View ArticleReducing Compensation Costs and Why Wages Don’t Fall During a Recession
Reducing compensation costs is on the minds of a lot of organizations right now. We are in the middle of a pandemic and the U.S. unemployment rate is the highest it’s been since the Great Depression....
View Article6 Simple Cost Cutting Strategies During a Recession
With layoffs happening in record numbers, it’s a crucial time to strengthen the strategic value that HR brings to the business, which can including cost cutting strategies to help the organization...
View ArticlePayScale Reveals Wage Growth During Covid-19 Across Industries, Occupations,...
PayScale has released new research on the impact that the coronavirus and the current economic downturn is having on wage growth. This data is available as both an interactive web page with weekly...
View ArticleHow to Set Pay for Contractors
During an economic downturn, businesses look for ways to reduce or control expenses. One of those ways is to utilize contractors instead of hiring full time employees. This may be due to a hiring...
View ArticleWhat is Pay Compression and How Do You Address It?
What is Pay Compression? Pay compression is when employees who have been in a job for a long time makes less than new hires in the same position. With pay compression, there are small differences in...
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How to Set Compensation for Remote Workers in a Post Covid-19 World
A seismic shift is taking place in the world of work as employers contemplate making remote work opportunities permanent. The next question? How to set pay for remote workers. Recently, Facebook made...
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