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2024 Salary Increase Budgets Moderate; 2025 Projections Indicate Further Contraction

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WorldatWork Survey finds 70% of organizations are taking action on pay equity. 

SCOTTSDALE, Ariz., Aug. 1, 2024 /PRNewswire/ — A year ago, participants in WorldatWork’s 2023-2024 Salary Budget Survey predicted a decline in salary increase budgets for 2024 across most of the world. Most countries indeed experienced a drop in 2024 salary increase budgets compared to 2023, often exceeding the forecast. Projections for 2025 suggest further contraction of salary increase budgets is expected in 2025 in almost all surveyed countries according to WorldatWork’s 51st annual Salary Budget Survey. WorldatWork, the Total Rewards association, is the leading provider of comprehensive compensation data and insights. The 2024-2025 Salary Budget Survey, covering nearly 17 million employees from 22 countries, reports detailed information about actual base salary increase and merit budgets for 2024 and projections for 2025.

After forecasting that average overall salary increase budgets would drop to 4.1% this year, U.S. respondents reported that average overall salary increase budgets fell from 4.4% in 2023 to 3.9% this year. They foresee a slight additional decline in 2025 to a 3.8% average budget. In addition to contracting salary increase budgets, this year’s study also revealed that in the U.S. the reported range of salary increase budget amounts is consolidating. 2024 data show fewer extreme budgets, low or high, than in recent years. And within the U.S. and Canada, geographic variation is modest. 

WorldatWork’s Salary Budget Survey is the longest-running survey of its kind. It is a key resource for Total Rewards and HR professionals and their C-suite partners. With year-over-year data, decision-makers can devise competitive compensation strategies and comprehensive rewards systems to help attract and retain high-caliber employees. 

An easy-to-use Online Reporting Tool facilitates tailored reporting based on industry, organization size and/or geographic region (within the U.S. and Canada), helping compensation, Total Rewards, and HR professionals prepare informed salary budget recommendations for their organizations. The Online Reporting Tool allows you to better understand the complex interrelationships of geography, organization size, industry, and workforce composition to develop the best recommendations for your organization. 

“Organizations of all kinds, from government entities to global multi-nationals to mid- and large-market enterprises to small businesses, rely on this annual survey to benchmark and plan salary increase budgets that will sustain the workforces they need,” said Sue Holloway, Director, WorldatWork. “This study reveals that compensation professionals have a nuanced grasp of the factors impacting salary budgets. They were able to foresee the decline in salary increase budgets that we’ve observed this year. We look forward to continuing to support Total Rewards pros as they leverage data and think strategically to formulate 2025 compensation budget recommendations and negotiate with CFOs.” 

Report Highlights:    

Additional countries included in 2024: New to this year’s study are data from the Gulf Cooperation Council (GCC) countries, South Africa, South Korea, and Vietnam.

New industry data for Pharma. For the first time this year, data are available for Pharma as a standalone industry.

Organizations are taking action on equity. Across the U.S., Canada, the UK, and India, the majority of organizations anticipate making pay adjustments to remediate pay equity issues in 2025. These adjustments may include both those required to maintain internal equity among employees as well as those needed to resolve unwarranted differences in pay between different groups of workers.

Canadian salary increase budgets came in at predicted levels in 2024. After correctly predicting that 2024 salary increase budgets in Canada would average 3.9%, Canadian HR pros anticipate a slight additional decline in 2025 to 3.7%

India’s substantial increase budgets. India again shows the largest average salary increase budget in the survey, averaging 9.6% for 2024. This figure, matching last year’s prediction for 2024 is a four-tenths decrease from last year’s average of 10%.

UK salary structure adjustments slow in 2024 but exceed predictions. Coming in at 4.3% in 2024, salary increase budgets in the UK came in at the level projected by participants in last year’s Salary Budget Survey, but salary structure adjustments slightly exceeded predictions. Nonetheless, 2024 structure adjustments, averaging 3.1% in 2024, are lower than 2023 adjustments and are projected to decline further in 2025.

Methodology:
WorldatWork collected survey data for the “2024-2025 Salary Budget Survey” from April 8, 2024, to June 15, 2024. The survey was completed by 2,249 organizations, many of which reported data for multiple countries, resulting in 6,536 unique survey responses. Members were asked to respond for the U.S. and 24 other countries: Australia, Belgium, Brazil, Canada, China, France, GCC Countries, Germany, India, Italy, Japan, Mexico, Netherlands, New Zealand, Nigeria, Russia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, the United Kingdom, the United States, and Vietnam. (Insufficient responses were received in 2024 to report data from New Zealand, Nigeria, or Russia.) 

About WorldatWork:   
WorldatWork is the leading global nonprofit association for professionals engaged in the critically important practice of Total Rewards. We serve those who are responsible for cultivating inspired, engaged, productive, and committed workers in effective and rewarding workplaces. We guide them in the design and delivery of Total Rewards programs with our membership, education, certification, idea exchange, thought leadership, knowledge creation, information sharing, research, and networking. For more than 65 years, WorldatWork has served Total Rewards professionals throughout the world working in organizations of all sizes and structures. Professionals from more than 93% of Fortune 500® organizations rely on WorldatWork for Total Rewards solutions. 

Media Contact:
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480-304-6860
381215@email4pr.com

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Earth’s pulse monitored: a review highlights remote sensing time series progress

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As urbanization accelerates and environmental dynamics shift, the need for accurate and timely terrestrial monitoring has never been more urgent. A review has introduced a novel approach to remote sensing time series analysis, integrating multi-source data to enable near real-time monitoring. This innovative methodology promises to transform environmental conservation and urban planning by providing unprecedented insights into terrestrial changes and offering a more precise understanding of environmental dynamics.

GUANGZHOU, China, Dec. 22, 2024 /PRNewswire-PRWeb/ — An international team of researchers from South China Normal University, the University of Connecticut, and the Chinese Academy of Sciences has made a significant breakthrough in remote sensing. Their review, published (DOI: 10.34133/remotesensing.0285) in the Journal of Remote Sensing on December 11, 2024, addresses key challenges in remote sensing, such as incomplete data and noise interference. The team’s new time series analysis technique leverages advanced data reconstruction and fusion methods, significantly enhancing the precision and efficiency of remote sensing for monitoring environmental changes.

The research team has developed an advanced time series analysis technique that combines deep learning algorithms with traditional remote sensing methods to integrate data from various remote sensing sources. This innovative approach allows for the extraction of subtle patterns from large, complex datasets, which is crucial for monitoring critical environmental parameters such as land use and vegetation health. Unlike conventional techniques that struggle with incomplete or noisy data, this new methodology offers enhanced accuracy and more reliable insights into terrestrial dynamics, paving the way for more effective environmental monitoring.

Central to the study’s success is the integration of Long Short-Term Memory (LSTM) networks and Generative Adversarial Networks (GANs) to address the challenges posed by missing or noisy data. The LSTM networks capture temporal trends over time, while the GANs generate synthetic data that mimics real-world observations to fill gaps and correct for atmospheric distortions. This dual approach has resulted in a cleaner, more accurate time series dataset, which was validated against independent ground truth measurements. The researchers demonstrated significant improvements in key vegetation indices, such as the Normalized Difference Vegetation Index (NDVI), setting a new benchmark in the field of remote sensing.

Experts in the field have lauded the study’s potential to revolutionize remote sensing applications. They see the method as a transformative tool for enhancing high-resolution monitoring and extending its coverage, particularly in agricultural surveillance, urban planning, and environmental management. “This method represents a crucial advancement in our ability to monitor environmental changes,” says Professor Fu. “As it evolves, it could play a key role in addressing climate change and other global challenges.”

The methodology’s future applications are vast, especially in global environmental monitoring and supporting sustainable development goals. By integrating multi-temporal data from Landsat and Sentinel-2 satellites, the team has created a framework for accurate and continuous terrestrial analysis. As computational power advances and algorithms improve, this technology is expected to become a vital tool for natural resource management, disaster response, and climate change mitigation. In the years to come, it could provide critical data to help policymakers address pressing environmental issues on a global scale.

References

DOI

10.34133/remotesensing.0285

Oiginal Source URL

https://doi.org/10.34133/remotesensing.0285

Funding information

This work was supported by the National Nature Science Foundation of China (grant numbers 42425001 and 42071399).

About Journal of Remote Sensing

The Journal of Remote Sensing, an online-only Open Access journal published in association with AIR-CAS, promotes the theory, science, and technology of remote sensing, as well as interdisciplinary research within earth and information science.

Media Contact

George Hua, Chuanlink Innovations, 1 8656606278, TranSpread1@gmail.com, http://chuanlink-innovations.com/

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ZINZINO AB (PUBL.): ENTERS INTO AGREEMENT TO PROVIDE DIP FINANCING TO ZURVITA INITIATING CHAPTER 11 PROCESS

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GOTHENBURG, Sweden, Dec. 22, 2024 /PRNewswire/ — Zinzino has in a press release dated 20240617 announced that a letter of intent to acquire 100% of the shares in the North American direct selling company Zurvita Inc. “Zurvita or the Company” was signed. Since then, Zinzino has negotiated with the owners of Zurvita Inc. and instead concluded that the purchase of Zurvita’s assets in a Chapter 11 proceeding for the Company is in Zinzino’s best interest.

Zinzino is providing a debtor-in-possession (DIP) financing to Zurvita, which filed for Chapter 11 bankruptcy proceedings on the 20th December 2024. By entering as a financier in Zurvita’s Chapter 11 with loans totaling USD 4.5 million, Zinzino simultaneously makes an offer to acquire the company’s assets via a so-called stalking horse bid. If the bid is accepted, the DIP loan will be converted into part of a debt-settled purchase price, which will be determined after Zurvita has completed the sale process that is subject to higher and better offers in accordance with the applicable terms of Chapter 11. Other bidders have the right to submit bids for Zurvita during the process and if another bid is accepted, Zinzino’s loan will be repaid and certain of its costs associated with the process will be reimbursed. 

Zurvita is a direct selling health company with operations in the United States, Canada and Mexico. The brand portfolio offers a range of innovative health and wellness products. The business has total annual sales of approximately USD 30 million with good gross margins. A potential transaction with Zinzino is expected to add growth through the synergies arising from the joint networks, combined with Zinzino’s test-based product concept. The profitability of the Company will thus be able to develop well by utilizing Zinzino’s existing technical platform and organization.

A visionary mindset, tech first perspective, test-based nutrition at the cellular level and a strong position to capitalize on current trends will form the basis of the new partnership. Following the acquisitions of VMA Life in 2020, Enhanzz in 2022, the strategic partnership with ACN and the recently completed asset acquisition of Xelliss, Zinzino has been looking for further strong investments to maintain its sustainable, profitable growth, strengthen its distribution power, expand into new markets and leverage the product portfolio in new consumer areas.

– “Individualized advice and tailored solutions are the future, and not just in health and wellness,” says Dag Bergheim Pettersen, CEO of Zinzino. “Together, we have years of combined industry experience and everything it takes to drive the modern, personalized shopping experience through direct sales”. Jay Shafer, CEO and co-founder of Zurvita, states “After considering multiple options for the company and under the guidance of our attorneys and third-party advisors, we feel this presents the best opportunity to continue Zurvita’s mission, deliver the highest quality products, and provide continuity for our staff and consultants. We are excited to see what the future holds for Zurvita.” 

For more information:
Dag Bergheim Pettersen CEO Zinzino +47 (0) 932 25 700, www.zinzino.com

Pictures for publication free of charge:
marketing@zinzino.com

Certified Adviser:
Carnegie Investment Bank AB (publ.)

Zinzino AB (publ.) is obliged to publish this information in compliance with current EU regulations governing market abuse. The information was provided by the above contact person for publication at 20.00 on the 21st of December 2024.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/zinzino/r/zinzino-ab–publ–enters-into-agreement-to-provide-dip-financing-to-zurvita-initiating-chapter-11-pr,c4086040

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Meet With Culture: Exquisite Craftsmanship of Traditional Chinese Architecture

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BEIJING, Dec. 22, 2024 /PRNewswire/ — The Temple of Agriculture in Beijing played a significant role during the Ming (1368-1644) and Qing (1644-1911) dynasties. Over nearly 600 years, 25 emperors personally visited or sent ministers to perform spring farming ceremonies and offer sacrifices to Shennong, the god of agriculture.

 

Built in 1420 during the Yongle reign, the temple’s predecessor was the Temple of Mountains and Rivers in Nanjing. When Emperor Zhu Di moved the Ming capital to Beijing, he constructed a larger temple inspired by the Nanjing temple, which gradually evolved into the Temple of Agriculture.

The Taisui Hall, the largest building complex in the temple, now serves as a major exhibition hall of the Beijing Ancient Architecture Museum, showcasing models of classical Chinese buildings and demonstrating the solemnity of royal architecture.

Ancient Chinese architecture is predominantly wooden-structured, chosen for its availability, versatility, and earthquake resistance. Artisans developed sophisticated techniques in material selection and construction. The wooden framework consists of columns, beams, girders, and purlins, with innovative structural forms like lifting-beam and piercing-bracket structures.

A unique architectural element is the dougong (bracket sets), which supports weight and connects beam frames with column walls. Mortise-tenon joints were invented to create elastic frameworks by connecting different components.

While discussing the Temple of Agriculture, it’s worth noting another remarkable example of architectural hierarchy which could be found in the Temple of Heaven. The hierarchy of architectural designs reflected social stratification, with eave structures like the triple-layered eaves of the Hall of Prayer for Good Harvest representing the highest-level architectural design.

Over centuries, the Temple of Agriculture has transformed from an imperial garden to a public park and a museum for historical architecture, now standing as a significant cultural landmark that symbolizes China’s agricultural civilization and architectural heritage along Beijing’s Central Axis.

Quickly join Alexandre to study and explore the traditional Chinese architecture.
https://youtu.be/YpA03WiZ9Wc

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SOURCE China International Communications Group

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