Chris Holman welcomes Star Crawford, Market Executive Detroit, Bank of America.
Chris had several things he wanted to find out in this conversation:
Why did Bank of America decide to raise its U.S. minimum hourly wage to $24?

Were factors such as inflation considered in making this decision, and when will the salary increase be implemented?

From 2017 to 2024, Bank of America raised its minimum hourly wage from $15 to $24.
Has the goal throughout this process been to lead the way in the banking industry and
encourage bank partners to also offer higher wages? 

Does Bank of America believe these changes will allow it to better recruit Michigan’s top talent in the years to come?

Beyond salary itself, what other benefits can you talk about that Bank of America offers its employees to enhance their personal and professional lives?

Will pay raises continue beyond this year? Specifically, is the plan still to reach $25 per hour by 2025? 

» Visit MBN website: www.michiganbusinessnetwork.com/
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Michigan Business Beat | Star Crawford Bank of America -  Raises Its U.S. Minimum Hourly Wage to $24

Hosted by Nick Day, CEO of JGA Recruitment and host of The Payroll Podcast, this special Halloween edition of Payroll Question Time, brought to you by SD Worx, delves into the major payroll challenges triggered by the UK’s 2024 budget. 

Join our expert panel as we dissect the impact of new tax policies, national insurance increases, and minimum wage adjustments that are set to reshape payroll compliance and business strategies for 2024.

In this episode, we explore the Employment Rights Bill 2024, analyzing the push for guaranteed hours, enhanced statutory sick pay (SSP) provisions, and the implications of shifting wage law enforcement from civil to criminal liability. From small business struggles to larger employer concerns, our panel unpacks what these changes mean for payroll operations and the heightened compliance risks they introduce.

We also discuss how the introduction of the Fair Work Agency (FWA) and its powers to investigate and audit businesses for payroll compliance could transform how employers approach holiday pay, minimum wage, and zero-hour contracts. With insightful perspectives on how these developments could affect recruitment, wage growth, and salary sacrifice schemes, this episode provides critical guidance for businesses navigating a challenging regulatory landscape.

This episode is packed with essential information to help you stay informed and prepared for 2024’s payroll shifts.

Find your ideal candidate with our job vacancy system: https://jgarecruitment.ck.page/691ee4537e 

Nick Day’s LinkedIn: https://www.linkedin.com/in/nickday/ 

(00:00) Intro to October Payroll Question Time

(00:10) The 2024 UK Budget Overview: Key Impacts

(05:26) Minimum Wage Increases and Workforce Impact

(10:34) Employer National Insurance: Expected Changes

(14:17) Bureau Payroll Challenges for Small Employers

(19:51) The Cost of New Payroll Compliance Requirements

(25:20) Inheritance Tax Changes for Pensions

(29:58) Potential Pay Freeze Due to Budget Pressures

(32:55) Undecided: Pay Rises vs. Budget Impact

(35:14) NI Exemption for Public Sector

(39:31) Employment Rights Bill and Guaranteed Hours

(45:21) Zero-Hour Contracts and Employee Flexibility

(50:11) Holiday Pay Compliance and Fair Work Agency

(56:43) Will New Wage Laws Change Payroll Compliance?

(01:00:31) Enforcement Shifts: Civil to Criminal for Wage Laws

(01:03:31) Cross-Functional Collaboration in Payroll Compliance

(01:07:07) Mandatory Worked Hours Reporting in 2026

(01:10:11) Preparing Payroll for 2024 ChangesAccess more excellent payroll content and subscribe to the Payroll Podcast via the following channels!

Listen to The Payroll Podcast:
• Apple: https://tinyurl.com/ApplePayrollPodcast
• Spotify: https://tinyurl.com/SpotifyPayroll

Watch Live Payroll Interviews:
• YouTube: https://tinyurl.com/PayrollYouTube

Access the following Payroll Resources:
• Payroll Newsletter sign-up here: https://tinyurl.com/Payrollnewsletter
• Follow us on LinkedIn: https://tinyurl.com/PayrollLinkedin
• Visit: www.jgarecruitment.com

UK Budget 2024: Impacts on Payroll, Employment Rights, and Tax Compliance

Today’s Payroll podcast is brought to you by Deel, the all-in-one global people

platform that consolidates global enterprise payroll to ensure big businesses can navigate payroll complexities easily and compliantly. 

Learn more: https://www.deel.com/resources/global-payroll-compliance-checklist/?utm_medium=sponsored-newsletter&utm_source=nickday&utm_campaign=ww_engage_download_nickday_sponnewsletter_payrollnewsletter-gpcompliance-nov24_gp_all&utm_content=engage_gp_sponnewsletter_gpcompliance-sponnews400-fin_en 

Welcome back to "The Payroll Podcast." In this episode, we’re delighted to continue our conversation with Anita Lettink, a visionary in the field of Future of Work and Payroll & HR Tech to take a deep dive into Anita’s view of the HR and Payroll Tech landscape. 

Anita has been recognized as a Top 25 Future of Work Global Thought Leader, a Top 10 Innovator, and a Top 100 HR Tech Influencer. She is the founder of HRTechRadar.com and a Partner at Strategic Management Centre.

In 2023, the HR Tech sector saw a tough investment climate, however, despite economic challenges. Investments have continued to flow into Local HCM Suites and Payroll Tech. In this episode, we’ll find out why that is, what still missing from pay tech investments and how these gaps can be addressed to shape the future of payroll.

Key Highlights:

• Investment Shifts: Local payroll solutions are gaining traction over global and compensation tech, driven by regional needs and innovation.
• Strategic Payroll Roles: Payroll professionals can become strategic leaders by mastering compliance and adapting to pay transparency laws.
• EOR Disruption: Employer of Record (EOR) solutions are reshaping payroll with faster, cost-effective global workforce management.
• AI in Payroll: Generative AI shows promise in automating backend tasks but needs better focus on practical applications.
• Payroll System Selection: Clear client-vendor communication is vital to successful payroll implementation, as outlined inAnita Lettink’s guide.


Find your ideal candidate with our job vacancy system: https://jgarecruitment.ck.page/691ee4537e 

Connect with Anita: https://www.linkedin.com/in/anitalettink/ 

Nick Day’s LinkedIn - https://www.linkedin.com/in/nickday/ 

If you need the support of a payroll recruitment agency or a payroll staffing partner to help fill your next payroll vacancy, please please contact me!  I possess over 20 years of payroll recruitment agency expertise and I would love to help! nick@jgarecruitment.com or call 01727 800377

Find out more at www.jgarecruitment.com

Stay tuned for the next episode of The Payroll Podcast, brought to you by Nick Day, CEO at JGA Recruitment, landing soon!

(00:00) Introduction to Anita Letink and Payroll Tech  

(01:55) Investment Trends in HR and Payroll Technology  

(04:11) Why Local Payroll Solutions Are Gaining Traction  

(08:02) The Role of Compensation in Payroll Innovation  

(10:18) Employer of Record (EOR) Solutions 

(17:13) Future Trends in HR Tech and Payroll Investments  

(20:16) Gen AI’s Potential in Payroll Management  

(27:08) Pay-on-Demand: Regional Adoption and Challenges  

(29:56) Can a Truly Global Payroll System Exist?  

(32:13) Anita Letink’s Guide to Selecting Payroll Systems  

(36:05) Elevating Payroll Professionals to Strategic RolesAccess more excellent payroll content and subscribe to the Payroll Podcast via the following channels!

Listen to The Payroll Podcast:
• Apple: https://tinyurl.com/ApplePayrollPodcast
• Spotify: https://tinyurl.com/SpotifyPayroll

Watch Live Payroll Interviews:
• YouTube: https://tinyurl.com/PayrollYouTube

Access the following Payroll Resources:
• Payroll Newsletter sign-up here: https://tinyurl.com/Payrollnewsletter
• Follow us on LinkedIn: https://tinyurl.com/PayrollLinkedin
• Visit: www.jgarecruitment.com

Why Companies Are Investing BIG in Payroll and HR Tech with Anita Lettink

Productivity growth is seen as central to economic development and social progress and drives up wages, living standards for workers and the competitiveness of businesses. So, how are different regions and countries increasing productivity, and can it be done in an inclusive way? In this podcast Professor Gaaitzen De Vries in the Department of Global Economics and Management of the University of Groningen in the Netherlands, and Luca Fedi, Employment specialist of the ILO Productivity Ecosystems for Decent Work project, explore this issue and why it matters.

The trillion-dollar question: does rising productivity lift all boats?

Today’s Payroll podcast is brought to you by Deel, the all-in-one global people

platform that consolidates global enterprise payroll to ensure big businesses can navigate payroll complexities easily and compliantly. 

Learn more: https://www.deel.com/resources/global-payroll-compliance-checklist/?utm_medium=sponsored-newsletter&utm_source=nickday&utm_campaign=ww_engage_download_nickday_sponnewsletter_payrollnewsletter-gpcompliance-nov24_gp_all&utm_content=engage_gp_sponnewsletter_gpcompliance-sponnews400-fin_en 

Welcome back to The Payroll Podcast! I’m your host, Nick Day, CEO of JGA Recruitment, and today we’re diving into an exciting new era of payroll—one that’s smarter, faster, and focused on reducing stress for both payroll professionals and employees.

I’m thrilled to welcome George Dunnett, Chief Product Officer at Zellis, and Nick Clarke, Director of Product Management. Together, they’ll share insights into Zellis HCM AIR, a major product upgrade that leverages real-time payroll calculations and AI to make payroll more efficient and stress-free. 

Today, we’ll discuss how these innovations are transforming payroll, improving financial wellbeing, and reshaping the payroll talent experience.

Key Learnings:

• Real-Time Payroll Transformation: Zellis HCM Air introduces real-time payroll processing and AI-powered features, enhancing accuracy, efficiency, and employee satisfaction.
• AI in Payroll: Generative AI explains payslips in simple terms, reducing stress for employees and workload for payroll teams, while machine learning detects anomalies and improves compliance.
• Financial Wellness Focus: Employers are increasingly expected to support employee financial health through tools like earned wage access and budgeting resources.
• Strategic Payroll Role: Payroll professionals are evolving into strategic "business partners," leveraging data insights to improve retention and organizational outcomes.
• Future Innovations: Flexibility in pay cycles, AI co-pilot tools, and advanced automation are shaping the next generation of payroll technology.


If you’re interested in how payroll is evolving with cutting-edge tech, then stay tuned—this episode has plenty to offer!

Find your ideal candidate with our job vacancy system: https://jgarecruitment.ck.page/691ee4537e 

Connect with Geroge:https://www.linkedin.com/in/dunnett/ 

Connect with Nick: https://www.linkedin.com/in/nickpclarke/ 

Nick Day’s LinkedIn - https://www.linkedin.com/in/nickday/ 

If you need the support of a payroll recruitment agency or a payroll staffing partner to help fill your next payroll vacancy, please please contact me!  I possess over 20 years of payroll recruitment agency expertise and I would love to help! nick@jgarecruitment.com or call 01727 800377

Find out more at www.jgarecruitment.com 

Stay tuned for the next episode of The Payroll Podcast, brought to you by Nick Day, CEO at JGA Recruitment, landing soon!

(00:00) Preview and Introduction 

(02:38) Introducing George Dunnett and Nick Clark  

(04:36) Complexity and Challenges in Payroll  

(08:46) How to Leverage Automation  

(11:20) Importance of Financial Wellness and Employee Support  

(13:22) Role of AI in Improving Payroll Accuracy  

(16:56) How AI Simplifies Payslip Explanations  

(18:04) AI for Anomaly Detection and Fraud Prevention  

(22:05) Payroll as a Profit Center  

(24:09) Employees’ Expectations of Financial Support  

(27:46) Evolution of Zellis HCM Air  

(31:01) Benefits of Real-Time Payroll Systems  

(35:10) User Feedback Shaping Payroll Innovation  

(38:28) Inside Zellis HCM Air: Features and Benefits  

(43:27) Future of Payroll Technology and AI  

(46:28) AI’s Role in Payroll InnovationAccess more excellent payroll content and subscribe to the Payroll Podcast via the following channels!

Listen to The Payroll Podcast:
• Apple: https://tinyurl.com/ApplePayrollPodcast
• Spotify: https://tinyurl.

How AI Solves Payroll’s Biggest Challenges | George Dunnett & Nick Clarke (Zellis)

Papaya Global has launched a new suite of AI-based solutions to enable global enterprises to pay their workforce with ease and confidence.

Papaya’s AI-powered platform serves enterprises via specific features designed to support large-scale multiple workforce and payments needs and offers digitalization, compliance, and cost savings.  

For more information about these innovations, visit: https://lp.papayaglobal.com/product-news/ 

Welcome back to The Payroll Podcast! I’m your host, Nick Day, CEO of JGA Recruitment, and today we have a special guest joining us today, recognized by Fortune as one of the most powerful women in tech!  

We’re diving deep into one of the most critical and often overlooked aspects of global payroll and that’s payments – often considered as “the last mile of compliant payroll.”

Joining me today is Eynat Guez, a trailblazer in global payroll and workforce management and the Co-Founder and CEO of Papaya Global, a leading SaaS platform valued at over $3.7 billion. 

Eynat is transforming the way enterprise companies manage global payroll, using cutting-edge technology to streamline payments and compliance. Recognized by FinTech Magazine as a Top 10 founder-CEO, Eynat is driving innovation at the intersection of payroll, payments, and technology.

In today’s episode, we’ll explore why payments are the critical last mile of payroll, the unique challenges of payroll payments, and the importance of integrating payroll and payments to reduce fraud risks.

If you’re passionate about payroll or simply want to learn from one of the most influential leaders in this space, stay tuned for some incredible insights!

Find your ideal candidate with our job vacancy system: https://jgarecruitment.ck.page/691ee4537e 

Connect with Eynat: https://www.linkedin.com/in/eynatguez/ 

Connect with Nick: https://www.linkedin.com/in/nickpclarke/ 

If you need the support of a payroll recruitment agency or a payroll staffing partner to help fill your next payroll vacancy, please please contact me!  I possess over 20 years of payroll recruitment agency expertise and I would love to help! nick@jgarecruitment.com or call 01727 800377

Find out more at www.jgarecruitment.com 

Stay tuned for the next episode of The Payroll Podcast, brought to you by Nick Day, CEO at JGA Recruitment, landing soon!

(00:00) Preview

(00:59) Introducing Eynat Guez

(02:08) Why Payments are the Last Mile of Payroll

(04:42) Challenges in Global Payroll Payments

(07:00) Risks of Delayed or Mishandled Payroll

(09:51) Compliance Challenges in Payroll Payments

(13:04) Global vs. Local Payroll Payment Systems

(15:44) Contingency Plans for Payroll Payments

(18:13) Mitigating Fraud and Manual Errors

(20:07) Importance of Tier-1 Banking Partners

(23:43) Why Money Transfer Licences Matter

(27:26) Integrating Payroll and Payments

(30:17) Papaya Global’s Mission and Innovation

(35:03) The Future of Payroll: AI and Compliance

(37:25) Digital Currencies in Payroll

(39:23) Closing Thoughts and ResourcesAccess more excellent payroll content and subscribe to the Payroll Podcast via the following channels!

Listen to The Payroll Podcast:
• Apple: https://tinyurl.com/ApplePayrollPodcast
• Spotify: https://tinyurl.com/SpotifyPayroll

Watch Live Payroll Interviews:
• YouTube: https://tinyurl.com/PayrollYouTube

Access the following Payroll Resources:
• Payroll Newsletter sign-up here: https://tinyurl.com/Payrollnewsletter
• Follow us on LinkedIn: https://tinyurl.com/PayrollLinkedin
• Visit: www.jgarecruitment.com

How Papaya Global is Disrupting Global Payroll & Payments with AI | Eynat Guez

Experience new levels of payroll accuracy and flexibility with Zellis HCM AIR: : https://www.zellis.com/hcm-air/ 

Welcome back to The Payroll Podcast! I’m your host, Nick Day, CEO of JGA Recruitment, and today we’re diving into an exciting new era of payroll—one that’s smarter, faster, and focused on reducing stress for both payroll professionals and employees.

I’m thrilled to welcome George Dunnett, Chief Product Officer at Zellis, and Nick Clarke, Director of Product Management. Together, they’ll share insights into Zellis HCM AIR, a major product upgrade that leverages real-time payroll calculations and AI to make payroll more efficient and stress-free. 

Today, we’ll discuss how these innovations are transforming payroll, improving financial wellbeing, and reshaping the payroll talent experience.

Key Learnings:

• Real-Time Payroll Transformation: Zellis HCM Air introduces real-time payroll processing and AI-powered features, enhancing accuracy, efficiency, and employee satisfaction.
• AI in Payroll: Generative AI explains payslips in simple terms, reducing stress for employees and workload for payroll teams, while machine learning detects anomalies and improves compliance.
• Financial Wellness Focus: Employers are increasingly expected to support employee financial health through tools like earned wage access and budgeting resources.
• Strategic Payroll Role: Payroll professionals are evolving into strategic "business partners," leveraging data insights to improve retention and organizational outcomes.
• Future Innovations: Flexibility in pay cycles, AI co-pilot tools, and advanced automation are shaping the next generation of payroll technology.


If you’re interested in how payroll is evolving with cutting-edge tech, then stay tuned—this episode has plenty to offer!

Check Out Zellis HCM Air to Optimise Your Payroll today: https://www.zellis.com/hcm-air/ 

Find your ideal candidate with our job vacancy system: https://jgarecruitment.ck.page/691ee4537e 

Connect with Geroge:https://www.linkedin.com/in/dunnett/ 

Connect with Nick: https://www.linkedin.com/in/nickpclarke/ 

Nick Day’s LinkedIn - https://www.linkedin.com/in/nickday/ 

If you need the support of a payroll recruitment agency or a payroll staffing partner to help fill your next payroll vacancy, please please contact me!  I possess over 20 years of payroll recruitment agency expertise and I would love to help! nick@jgarecruitment.com or call 01727 800377

Find out more at www.jgarecruitment.com 

Stay tuned for the next episode of The Payroll Podcast, brought to you by Nick Day, CEO at JGA Recruitment, landing soon!

(00:00) Preview and Introduction 

(02:38) Introducing George Dunnett and Nick Clark  

(04:36) Complexity and Challenges in Payroll  

(08:46) How to Leverage Automation  

(11:20) Importance of Financial Wellness and Employee Support  

(13:22) Role of AI in Improving Payroll Accuracy  

(16:56) How AI Simplifies Payslip Explanations  

(18:04) AI for Anomaly Detection and Fraud Prevention  

(22:05) Payroll as a Profit Center  

(24:09) Employees’ Expectations of Financial Support  

(27:46) Evolution of Zellis HCM Air  

(31:01) Benefits of Real-Time Payroll Systems  

(35:10) User Feedback Shaping Payroll Innovation  

(38:28) Inside Zellis HCM Air: Features and Benefits  

(43:27) Future of Payroll Technology and AI  

(46:28) AI’s Role in Payroll InnovationAccess more excellent payroll content and subscribe to the Payroll Podcast via the following channels!

Listen to The Payroll Podcast:
• Apple: https://tinyurl.com/ApplePayrollPodcast
• Spotify: https://tinyurl.com/SpotifyPayroll

Watch Live Payroll Interviews:
• YouTube: https://tinyurl.com/PayrollYouTube

Access the following Payroll Resources:
• Payroll Newsletter sign-up here: https://tinyurl.com/Payrollnewsletter
• Follow us on LinkedIn: https://tinyurl.com/PayrollLinkedin
• Visit: www.jgarecruitment.com

David Glasner is a UCLA-trained economist specializing in monetary theory and the history of economic thought. He has disagreed in print with Murphy’s take on the famous Sraffa-Hayek debate. David first explains his general views and then comments on the debate.

Bob’s Paper, “A Problem With the Pure Time Preference Theory of Interest”: https://Mises.org/HAP477a
David’s Paper “The Sraffa-Hayek Debate on the Natural Rate of Interest”: https://Mises.org/HAP477b

David Glasner on the Sraffa-Hayek Debate

The original post was published on 16 December 2024.
https://ecb.europa.eu/press/blog/date/2024/html/ecb.blog20241216~bfde3e64c2.en.html

Subscribe to be notified of future posts on The ECB Blog.
www.ecb.europa.eu/press/blog/html/register.en.html

Check out other posts on The ECB Blog
www.ecb.europa.eu/press/blog/html/index.en.html

European Central Bank
www.ecb.europa.eu

What drives domestic inflation? The triangle of wages, profits and productivity

The growth of negotiated wages is expected to ease in 2025. This is the information emerging from the ECB wage tracker, which we will publish on a regular basis from now on. Colm Bates, Vasco Botelho, Sarah Holton, Marc Roca I Llevadot and Mirko Stanislao explain the tool and how it can help monitor wage pressures in the euro area. The original post was published on 18 December 2024.

https://ecb.europa.eu/press/blog/date/2024/html/ecb.blog20241218~1b3de009b4.en.html

Subscribe to be notified of future posts on The ECB Blog.
www.ecb.europa.eu/press/blog/html/register.en.html

Check out other posts on The ECB Blog
www.ecb.europa.eu/press/blog/html/index.en.html

European Central Bank
www.ecb.europa.eu

The ECB wage tracker: your guide to euro area wage developments

The ECB Blog offers new insights on the economy and central bank policies based on our data, analysis and research - for the euro area and beyond. For the full texts of our posts, including visuals, please visit our website.

Posts are authored by ECB staff and the audio versions are machine generated. The views expressed are those of the posts' authors and not necessarily those of the European Central Bank and the Eurosystem.

The Home of Business in Michigan. Get on-demand access to audio programs, articles and resources presented by savvy business leaders and industry experts.

The International Labour Organization (ILO) is a specialized agency of the United Nations and is devoted to promoting social justice and internationally recognized human and labour rights, pursuing its founding mission that labour peace is essential to prosperity.

Today, the ILO helps advance the creation of decent work and the economic and working conditions that give working people and business people a stake in lasting peace, prosperity and progress. Its tripartite structure provides a unique platform for promoting decent work for all women and men. 

Its main aims are to promote rights at work, encourage decent employment opportunities, enhance social protection and strengthen dialogue on work-related issues.

The Mises Institute, founded in 1982, is an educational institution devoted to advancing Austrian economics, freedom, and peace in the classical-liberal tradition. Our website offers many thousands of free books and thousands of hours of audio and video, along with the full run of rare journals, biographies, and bibliographies of great economists.

New tracks tagged #Wages