Projections for 2024 and its Impact on Compensation Budgets

ep245: Today, we unveil the unexpected twists in Social Security projections and what that means for you when planning your compensation budget for 2024. Dive into the world of economic forecasts with insights from Phil Brandt and compensation expert Michael Maciekowich. And don't miss the revealing insights from Mikey Mac's renowned cardboard box index.

 

Lawyer on the Clock

5:21 - Is the TSA reinstating mask mandates? With a new COVID variant out there, rumors are flying it could be as early as mid-September. 

7:11 - The Fifth Circuit court issued a decision eliminating a legal test for evaluating Title Seven claims. 

10:36 - A St. Louis case headed to the Supreme Court could further delve into what is considered adverse employment action.

 

The Employers’ Lounge

18:40 - Michael Maciekowich is here with a 2024 compensation forecast. 

20:45 - Economic think tanks are pulling back on recession projections. 

22:30 - The cardboard box index is shifting in part due to environmental conservation efforts. 

24:20 - Starting pay is increasing, which is affecting compensation budget projections. 28:19 - The growing realization that human resource professionals are having to serve more as financial advisors as they become responsible for helping manage a huge portion of an organization's budget with pay and benefits. 

31:16 - Compression! In the rush to compete for new talent, it's important to now reflect on your internal equity and remain competitive among existing workers. 

34:25 - The current state of lump sums, bonuses, and spot awards.

   

Host(s): 

Phil Brandt, President and CEO, AAIM Employers’ Association

Burt Garland, Shareholder, Ogletree Deakins

 

Special Guest(s): 

Michael F. Maciekowich, National Director, Astron Solutions

 

Powered by AAIM Employers’ Association and Ogletree Deakins, a Feature Group USA production