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Let’s take a closer look at salary compression as well as how to spot, resolve and prevent it from reoccurring in your company. What is salary, wage or pay compression? Asking for a job seeker’s salary history won’t help much, either, especially if a prospective hire knows they can find a higher paying job elsewhere.
Interestingly, consulting firm Grant Thornton reports in its State of Work in America survey that two in five workers (40%) who changed jobs in the last year are already looking for another job. This suggests that job hopping has become a phenomenon in itself, whether that’s because of bad onboarding or increased opportunity – or both!
" - Keith Reynolds PepsiCo By taking a total rewards approach - a combination of salary, benefits, incentives, rewards, and engagement- the whole shebang, focusing on all aspects of the employee’s wellbeing. Workplaceflexibility and work-life balance. Positive workplace and wellbeing.
These could include any number of services or programs that enhance employees’ quality of life and working conditions, ranging from educational assistance to achievement awards and options for greater workplaceflexibility, including remote work. Managing employee benefits So, how do you: Select the right benefits for your workplace?
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