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Archives for October 2013

Pay Policy, Public or Private?

Katherine Neff

CNBC reported this week that Joel Gascoigne, the founder of Buffer – a 13 employee social media publishing company – publishes the salaries of his employees within his organization. While Gascoigne believes that publishing the salaries of his employees encourages trust, responsibility and fairness, Chris Charman, director of reward and talent management at professional services company Towers Watson, warns that doing so “carries a lot of risks.”

Perhaps the risks Charman referred to relate to the consequences a company could face if it was not following the Equal Pay Act or the Lilly Ledbetter Fair Pay Act. For years Lilly Ledbetter did not know that Goodyear paid her significantly less than her male coworkers because Goodyear’s policies prohibited employees from discussing their salaries. A policy of pay transparency would allow for a female employee, like Ledbetter, to know immediately if the company had a discriminatory pay policy. Thus, employers with transparency in pay policies will have a strong incentive to eliminate any discriminatory compensation practices.

Read more about transparent pay policies in the article here.

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Ohio Minimum Wage – Workers Receive Pay Increase

Randy Freking

For minimum wage workers who work for an Ohio employer with annual gross revenue greater than $292,000, will receive a minimum wage increase on January 1, 2014.  The new minimum wage in Ohio will be $7.95 per hour a .10 increase.  “Tip” employees will see their minimum wage increase from $3.93 per hour to $3.98 per hour plus tips.

For smaller employers, the federal minimum wage is currently at $7.25 per hour.  The federal minimum wage has not changed since July, 2009.

Click here for a copy of the 2014 Ohio Minimum Wage poster.

 

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