2022 Salary Increase Spending Among Museums a Hot Topic

2022 Salary Increase Spending Among Museums a Hot Topic

Over the past couple of months several clients have asked for guidance on how to plan and budget for employee (non-union) salary increases in 2022. These questions arose from a confluence of challenges facing museums, including: High inflation, currently around 8%...
Sign-on Bonuses: Prevalence & Effectiveness

Sign-on Bonuses: Prevalence & Effectiveness

We heard from many of our clients that filling open positions has been difficult, with many candidates receiving multiple offers. The difficulty in attracting candidates is more than having a candidate pool but also finding qualified and diverse candidates –...
Job Descriptions: An Essential Management Tool

Job Descriptions: An Essential Management Tool

Job descriptions are an essential part of hiring and managing your employees. Written summaries of your jobs ensure applicants and employees understand their roles and are accountable to the organization. Job descriptions also: Serve as the foundation for creating job...
Creating a Long-term Incentive Plan (LTIP) with Phantom Stock

Creating a Long-term Incentive Plan (LTIP) with Phantom Stock

Phantom stock is used by companies as an approach to long-term incentive plans and as a mechanism for creating additional performance-based awards. Private and public companies utilize long term incentive plans as a retention tool, to align key employees with company...
Compensation’s Annual Calendar

Compensation’s Annual Calendar

The compensation function in an organization has a regular calendar of projects that are completed each year. The purpose of completing these cyclical projects is to guide management/boards of directors in making compensation, recognition and reward decisions that...