Practical HR Tips, News & Advice. Updated Daily.
In two previous posts, we’ve been discussing the need for, and the merits of, implementing a hierarchical pay raise structure as opposed to a more or less flat structure whereby all employees generally receive about the same pay increase.
In a previous post, we discussed the precarious situations many employers find themselves in when it comes to employee pay increases. We currently find ourselves in a tight labor market with relatively low unemployment, and employees consistently list financial compensation as one of the primary factors in accepting and staying at a job.
With the unemployment rate hovering at historic lows, companies need to work hard to attract and retain top talent. And while they’ve tried to do this with a number of different incentives—such as greater workplace flexibility, increased healthcare benefits, positive company environments, etc.—salary remains the primary draw for a big chunk of employees.
Relocation assistance is something that not all employers offer but could be worthwhile to consider. Some employers think that the expense is too great to be justified, while others think that it opens many doors and allows them access to candidates they never would have otherwise found.
The gig economy is becoming increasingly popular. It is a free market system in which workers are primarily engaged in temporary work on a freelance basis as opposed to full-time work on a permanent basis.
Employee retention is—or at least should be—a major goal of companies in any industry. Not only is top talent hard to come by in general, but it costs money to recruit, hire, and retrain new employees.
In part one, we covered how improving your hiring process by focusing on the candidate experience is a sure-fire way to progress your overall employee experience, which in turn will keep top talent sticking around.
It’s a candidate-driven market, which means jobseekers are in the driver’s seat and demanding more than just a higher salary. Jobseekers expect their employer to provide personal fulfillment and meaning. If your employees do not feel supported, aren’t learning new skills for the future, or are disengaged with their work, they will seek employment elsewhere.
Anyone tasked with hiring tech workers over the past decade has probably openly lamented the lack of qualified talent to fill open positions. The Department of Labor estimates that 1 million technology jobs will go unfilled by 2020.
Turnover is always a hot topic. How can it be reduced? How can you keep top employees from leaving? What makes a good employee want to leave your organization? How can you know if someone is considering quitting?