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To give, or not to give? Navigating the 2023 merit pay dilemma.

HiBob

Some companies made the hard decision to lay people off in the last weeks of 2022 and early 2023. On the other hand, strategic compensation incentives are crucial for retaining the key talent you’ve fought so hard to find over the last few years. percent in 2022. To put it simply: It’s complicated. percent in 2023. The reason?

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Compensation Programs and the Great Resignation

Astron Solutions

As a direct result of the ongoing COVID-19 pandemic, 2022 finds us facing high inflation rates. We’ve seen prices rise 7% – in everything from cars and housing, to gas, food, and furniture. It is the largest 12 – month increase in inflation that we’ve seen in 40 years. According to CNBC , “Employers had it easy over the past decade.