Employer spending on compensation and benefits rose 1.1% during the quarter ending in September, slightly more than economists had predicted, according to Bureau of Labor Statistics data released on Oct. 31.

Compensation spending grew 4.3% year over year, down from 5.2% YOY growth in Q2 2022. The index peaked last year, when employer spending on wages and benefits grew around 5% from 2021 for three consecutive quarters.

Pay raises remain historically high. This recent data from the Employment Cost Index (ECI) shows “wage growth is not necessarily slowing as fast as we’ve seen in a few of the other measures,” Cory Stahle, economist at Indeed, told HR Brew. Other data tracking compensation, such as the hourly earnings measure published in the monthly jobs report, have shown “a little more [of a] dramatic pullback,” he added.

Part of the reason the ECI shows a more moderate slowdown in pay than other trackers is because “volatile” types of pay, such as those earned through commission, are included in the dataset, Stahle said. When you exclude this volatile pay, compensation costs grew at a more moderate year over year rate of 4% last quarter, he noted.

Keep reading here.—CV

Here’s news that comes as a surprise to, uh, nobody: The top causes of stress are overwork and team behavior. Add burnout to the equation, and you’ve got one stressed-out team on your hands.

How can leaders right the ship? Glad ya asked. Calm Business is hosting a webinar, How to Craft a Culture of Work-Life Balance, on Nov. 16 at 1pm ET.

Workplaces that properly champion work-life balance start with leaders who create enjoyable, safe, and productive environments. In this free interactive webinar, you’ll:

• explore how transformed leadership creates space for teams to discuss balance
• define and outline what successful work-life balance looks like for your team
• develop tools that’ll help you build a winning culture

Save your seat(s) and let the balance begin.

Companies in the US have been trying to find the right balance when responding to the Israel-Hamas war.

A new survey from ResumeBuilder finds that while some employees believe companies should make public statements, many workers are afraid of the repercussions of voicing their own opinions.

ResumeBuilder surveyed 1,000 workers in the US at the end of October, and found that 51% of respondents said they feel it’s at least somewhat important for companies to make a statement about the war.

“It benefits the company to make both an internal and external statement, as it may allow them to maintain, and simultaneously attract, employees aligned with their culture,” Stacie Haller, ResumeBuilder’s chief career advisor, said in the report.

Keep reading here.—KP

Private employers with 100 or more workers must submit an annual report to the Equal Employment Opportunity Commission (EEOC) on their workforce’s demographic data within the next month, the agency announced Oct. 31.

Separately, the Internal Revenue Service (IRS) raised 401(k) contribution limits for next year.

Here’s what HR should know about these policy updates.

EEOC sets a data collection deadline. The EEOC has required private companies with 100 or more workers to submit demographic data on their workforces each year since 1966. This year, the “Component 1” or “EEO-1” report—which includes breakdowns by job category, sex, and race or ethnicity—is due Dec. 5.

Keep reading here.—CV

Today’s top HR reads.

Stat: The share of global employers offering severance to all laid-off employees dropped to 42% this year, down from 64% in 2021, according to HR consulting firm Randstad NV. (Bloomberg)

Quote: “Typically, what you’re finding with these broader layoffs is that they’re not at all related to performance…They’re related to just the company needing to function moving forward with slimmer margins and better, just tighter books.”—Teal Pennebaker, a managing partner at Shallot Communications, on what’s driving job cuts (Insider)

Read: As the labor market cools, some large employers are worried about low turnover rates, prompting managers to mull cutting projects or staff to stay within budget. (the Wall Street Journal)

Work / life / balance: Join Calm Business for a free interactive webinar all about defining and outlining what a successful work-life culture could look like in your workplace. Team leaders, you’re gonna wanna tune in.*

Data at work: Join HR Brew and Beamery as we discuss the intertwining of quantitative and qualitative data to make informed HR and hiring decisions. Learn how to strike the right balance and register.*

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