L-Blast | February 2020
Dear All,
We are well into the start of the year with spring around the corner and proxy season upon us. Here at NFPCC we have been busy helping our public company clients with their proxies, shareholder outreach and CD&A disclosures. Effective communication to stakeholders is key, don’t hesitate to reach out to us if you need assistance with any aspect of your proxy statement.
We have some great pieces to share with you in this month’s L-Blast. The first article is on the increasingly important topic of pay equity. As more legislation continues to be applied to equal pay issues, it’s becoming more critical for companies to take steps to ensure their compensation programs are fair and equitable.
While on the subject of pay equity, our next article provides some initial steps companies can take to identify and start working towards closing gender pay gaps. These basic guidelines will help organizations not only identify any type of pay discrepancies but also aid in developing sound compensation-setting practices overall.
The final article is a good read for HR teams in terms of what compensation trends they should keep top of mind in 2020 at the all-employee level. Again, here we see pay equity and transparency at the forefront.
Lastly, our midstream and upstream surveys will open April 1st. We urge those of you in these segments to participate and benefit from the comprehensive compensation data the surveys will provide. As always, let us know if there is a particular subject you’d like to learn more about or if you have any questions about the topics covered in this L-Blast.
Sincerely,
The NFPCC Team
Establishing and Maintaining Pay Equity
In a previous article written by NFPCC in 2018, the growing concern of gender pay gaps and how they impact attraction and retention issues in corporate America was addressed. Through this process, it was discovered that the issue of the pay equity gap really was not as serious as previously thought – at least to the extent as portrayed in political circles and media outlets. The incorrect messaging generates doubt and forces the questioning of historical practice and future application of compensation programs.
READ MOREInching To Close The Gender Pay Gap: Three Actions Employers Can Take Right Now
On January 29, 2009, President Barack Obama signed into law the Lilly Ledbetter Fair Pay Act, which grants additional recourse for challenging discrimination between men and women who perform the same jobs within an organization. Five years later, in April 2014, Obama also signed an executive order prohibiting federal contractors from discriminating against employees who discuss or inquire about their compensation.
Money Talks: 5 Compensation Trends to Watch in 2020
As a new decade begins, employee-compensation specialists shared their expectations. Below are five trends that pay-watchers predict will gain ground in 2020 and beyond.
No. 1: States will continue to set their own compensation mandates. On minimum wage and overtime requirements, “more states feel emboldened to establish their own direction and set their own policies that stretch beyond the policies established by the federal government,” said Perry Braun, executive director of the Benefit Advisors Network (BAN), a consortium of health and welfare benefit brokers.
READ MORENFPCC’s Midstream & Upstream Surveys Launch April 1st
Keep your compensation programs competitive by participating in NFPCC’s 2020 Midstream and Upstream Industry Compensation surveys and see what it takes to attract, motivate and retain your teams. Get access to the latest benchmarks ranging from administrative support to executive C-suite in both corporate and technical roles, inclusive of actual total direct compensation and target total direct compensation.
Surveys are scheduled to launch April 1st and final survey results will be available only to participating organizations. You don’t want to miss out!
Click below to learn more about the surveys or contact Josh Whittaker at 281.378.1368
midstream surveyupstream surveyCompensation Discussion & Analysis (CD&A) Disclosure Preparations
Leveraging extensive experience and knowledge of real-time best practices in the evolving shareholder communication platform, NFPCC will help you craft an effective message to your investor audience while fulfilling SEC requirements.
CONTACT US TO GET STARTED! »281.378.1350
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