Limbo Time for Minimum Wage…
Will they or won’t they? The proposed two-year increase in the federal minimum-wage pay hike faces another possible delay.
It did get a boost last week, when House and Senate negotiators reached a deal on business-tax incentives to help raise the minimum wage to $7.25 an hour from $5.15.
However, it is attached to the Iraq war spending bill, calling for troop withdrawal in March 2008. President Bush plans to veto the bill.
The last minimum wage increase was in 1997, though some states offer minimum wage rates higher than the federal standard.
Korn/Ferry’s Shifting CEO Duties…
Korn/Ferry International says it is separating the roles of chairman and chief executive.
Paul Reilly will remain chairman of the board, while Gary Burnison will take over as chief executive, effective July 1.
The company explains that this transition will allow Reilly to spend more time in the marketplace and with clients, while Burnison’s CEO leadership will help to drive business growth and expansion.
Social Networking to Reinforce Corporate Brands…
Not a believer in the power of social networking to initiate meaningful brand connections with potential job candidates? Well, take a look at a new study by Marketing Evolution, a marketing and consulting firm.
It found that brands such as Adidas and Electronic Arts attributed more than 70% of their marketing return on investment to the momentum effect. This term highlights the “pass along” power of consumer-to-consumer communication within social networks.
The study also showed that more than 40% of all social network users use social networking sites to learn more about brands or products they like, including companies they would consider working at. And 28% said at some point a friend has recommended a brand or product to them.