Compensation Trends and Strategies to Win and Retain Talent

As the war for talent heats up and with the Great Resignation not showing any signs of slowing down, compensation has become a crucial business challenge for organizations. From offering the best compensation packages to addressing equity in wages and pay transparency, organizations are in a race to provide better benefits (that account for both physical and mental health) that would make people stay. What will compensation look like in the new world of work? How to make pay equity central to your compensation strategy?

The May issue of Talent Management Excellence includes informative articles focusing on compensation trends in 2022, employee retention strategies, future-ready skills, and much more.
 

With the surge in top talent flooding the marketplace, businesses looking for rapid growth must match or go beyond the salary expectations of their employees. Carolyn Betts' (CEO, Betts Recruiting) article, Compensation Trends To Consider For Your Next Hire, talks about wage trends to consider when looking for job talent to add to your team.

Nearly 8 out of every 10 U.S. employees say that having access to on-demand pay would increase their loyalty to their employer. Paylocity’s Calvin Sun in his article, Now Is The Right Time For On-Demand Pay, highlights why on-demand pay is a win-win for employers and employees. 

Is your organization stuck in a cycle of pay inequity? XpertHR’s Emily Scace in her article, Evaluate And Correct Pay Inequity In 5 Steps, offers a blueprint to help you get ahead.

One of the biggest reasons employees jump ship is because they can’t see the direct correlation between their compensation and their work performance. Building A Winning Retention Strategy In 2022 by Sequoia’s Kyle Holm talks about creating a consequence culture that helps business leaders fix problems rather than put a Band-Aid on it.

In brief, this edition of the magazine focuses on the challenges and issues faced by organizations along with several strategies and tips to navigate the new workforce. 

We hope you enjoy reading all the articles and get back to us with your valuable suggestions/feedback.

Cheers!
 

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