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For instance, Jacob Morgan, author of The Future Of Work , explained in a Forbes article how AMP Bank in Sydney, Australia makes it a point to sit down with each employee to explain how new technologies and strategies can benefit both parties. It’s important to realize the vital role management plays in the development of a company.
As we all now by now, prioritizing rewards instead of learning and innovation can actually demotivate employees. Compensation does need to be discussed during the mid-year performance review, and some companies are finding success in having a separate compensation discussion towards the end of the annual cycle.
These rates can be influenced by many different factors, from the type of job to an employee’s personality. This is why it’s so important for companies to understand how they can reduce employee turnover rates and keep their most valuable employees around longer. Compensation. What is Attrition?
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