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Median and mean are useful measures of distribution that identify central values and tendencies of a data set. In a WageWatch compensation survey, median is the middle wage in a set of ranked market wages, which separates the data set in half. When an even number of wages are ranked, with no true middle value, the average of the two middle data points is the median wage. Median is also called the 50th percentile.
Top Stories: Human Resources
Today's report showed 171,000 workers were added to payrolls in October, up from 148,000 in September. At the same time, unemployment rose to 7.9 percent from 7.8 percent last month. As jobs have begun to return, more people have been entering the labor force seeking employment. Average hourly earnings climbed 1.6 percent in October from the same time last year without matching with inflation.
(Huffington Post)
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There are 5Rs that can help to give your employees a greater level of assurance about their commitment to stay. They are respect, responsibility, reward, relaxation time and revenue-sharing. (Forbes)  Read the complete article
Top Stories: Lodging & Gaming
 Travel Managers Brace for an Upturn in Lodging Rates
Experts predict that recovery will spread throughout the country next year, particularly in upscale hotels that tend to be frequented by business travelers.  Demand for rooms began increasing as early as 2010, shortly after the recession ended, but that the drop in travel had been so sharp that occupancy levels were only now approaching traditional norms.
(NY Times) Read the complete article
Top Stories: Healthcare
3 Reasons Why Layoffs Don't Benefits Hospitals in the Long Run
A recent op-ed from two Harvard University economists this summer agreed with that "no lay off" philosophy. Layoffs are only a short-term financial solution that won't help hospitals in long-term. Retraining employees is cheaper than laying them off or outsourcing. (Beckers Hospital Review) Read the complete article
Primary Care Physicians Get Medicaid Pay Boost; OB/GYNs, ER Physicians Excluded
CMS has released a final rule (pdf), within the Patient Protection and Affordable Care Act that will increase Medicaid payments for certain primary care physicians to Medicare rates over the next two years beginning Jan. 1, 2013. Qualifying physicians will receive higher payments if primary care services are rendered by certain physician extenders - such as nurse practitioners - who work under the qualifying physicians' supervision. (Source) Read the complete article
 Volume, Value, and Compensation Metrics
With the Patient Protection and Affordable Care Act ushering in the pay-for-value era, healthcare organization compensation committees are scrutinizing executive compensation models to stay in step with new objectives. Spring 2012 Salary Increase, Incentive and Benefit Updates shows that of the 75% of respondents that have incentive plans for executives, approximately 25% said the plans will be changed this year. Another 38% of hospitals and health systems will use physician alignment as a criterion in their incentive plans.
(Health Leaders Media) Read the complete article
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WageWatch provides valuable compensation and salary surveys online across multiple industries and geographic markets to human resource professionals, hiring managers, associations, employers, and other executives at the best price. Our cost-effective online salary and compensation surveys and reports are designed to help employers with hiring employees, employee retention, employee pay and recognition, employee benefits, budget planning, market pricing jobs and salary range decisions.
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