Epilogue Challenges Facing Compensation Professionals
Learning Objectives E-1. E-2. E-3. E-4. E-5.
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Explain the issues associated with a possible increase to the federal minimum wage rate. Summarize the trends in performance appraisal and the relationship to compensation practices. Describe the compensation-productivity gap issues. Discuss the gender pay gap. Explain the issue of pay transparency. Outline Overview Possible Increase to the Federal Minimum Wage Rate Trends in Performance Appraisal The Compensation-Productivity Gap Gender Pay Gap Pay Transparency Key Terms Discussion Questions and Suggested Answers Assisted-Graded Questions Additional Cases from the MyLab Management Website; Instructor Notes, and Questions and Suggested Student Responses Lecture Outline Overview A. Five key issues among many more have created persistent challenges for compensation and HR professionals: 1. Possible increase to the federal minimum wage rate 2. Performance appraisal trends 3. Compensation-productivity gap 4. Gender pay gap 5. Pay transparency Possible Increase to the Federal Minimum Wage Rate A. Raising the Minimum Wage 1. Many public campaigns have called for increasing minimum wage 2. Many states plus D.C. enacted minimum wage laws and pushes for increases have taken hold in some states 3. Some argue that increasing minimum wage could lead to lay-offs and have negative ripple effects throughout the U.S. economy 4. Another study suggest that raising the minimum wage will bring nearly 1 million workers above poverty levels 247 Copyright © 2020 Pearson Education, Inc.
