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Examine payraise alternatives. If you can’t afford a payraise but want to show a deserving employee you value their work, you have options. Consider offering a payraise alternative, like a bonus, more paid time off , or flexible scheduling. Or, it could also include work-from-home options.
A 2017 report by Gallup shows that 51% of workers are planning to leave their current jobs. High employee retention happens when employees feel connected to their work. Also, their priorities are quite different from traditional outlooks. Studies say that 89% of millennials prefer benefits over payraises.
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