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70% of businesses expect to increase pay transparency into 2027, whether or not its required, because its an excellent recruitment tool. On top of that, the increase in remote work options means that your most competitive talent is benchmarking your salary range against a global workforce, not just peers locally.
The situation looks even more dire in the manufacturing segment, a more traditional industry, which is expected to fall short by 2 million workers between 2017 and 2027 due to the one-two punch of industry growth and retiring baby boomers. Consider bonuses, gift cards and celebrations of big events in your employees’ lives.
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