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49% of UK organisations’ 2024 salary budgets were lower than the previous year

Employee Benefits

Half (49%) of UK organisations reported that their 2024 salary budgets were lower than the previous year, according to global advisory, broking and solutions firm Willis Towers Watson (WTW). Its Salary budget planning report was compiled by its Rewards Data Intelligence practice.

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Redefining employee experience: What’s changed and why it matters

Insperity

Workplace flexibility A decade ago, flexible work arrangements were a perk offered by forward-thinking companies. The challenge for leaders is to offer this level of flexibility while maintaining a cohesive culture and engagement, especially when teams are distributed across various locations.

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Crucial HR KPIs to measure in today’s workplace

Insperity

In addition to recruitment costs, salary offsets for employees who live in areas with a lower cost of living could represent a savings on the balance sheet over time. For example, a hire in California may command a $100,000 salary, but a comparable hire in Tennessee may only cost $60,000. Times have changed.

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Top Strategies to Reduce Employee Turnover in 2024

HR Lineup

The contemporary workforce is influenced by various trends, including: The Rise of Remote Work: The widespread adoption of remote work has reshaped traditional notions of workplace flexibility and work-life balance. Enhance Leadership and Management Effective leadership and management are crucial for employee engagement and retention.

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UK salary budgets expected to decline in 2024

Employee Benefits

Salary budgets for UK employees are expected to decline in 2024 after peaking this year, according to research by Willis Towers Watson. The global advisory, broking and solutions firm’s latest Salary budget planning survey found that UK employers are budgeting an average increase of 4.4% This is lower than the average 5.1%

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The six skills managers will need for the future of work

Workplace Insight

Here, I outline six skills that will be required of management teams to effectively lead their workforces in the future. Flexible approach – Since the pandemic, we have gradually shifted away from the ‘office versus remote work’ debate, in favour of workplace flexibility.

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Your HR budget: 6 line items to prioritize right now

Insperity

Higher salaries for existing employees According to a Willis Towers Watson (WTW) survey that garnered approximately 28,000 responses from companies in 135 countries, including 1,550 U.S. In a tight labor market, salary increases are simply a savvy move to remain competitive and combat turnover. 6 HR budget items to prioritize 1.

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