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A 2019 Payscale survey reported that 73% of respondents used some type of bonus or variable pay program. Review current pay policies and benefit programs for competitiveness and anticipate the need to increase wages and enhance benefit programs to recruit and retain. Compensation. Wages grew 3.2% – 3.4%
The Great Resignation is over, the red-hot recruitingmarket has cooled a bit, and inflation is down. In a recent Compensation Best Practices Report published by Payscale, a majority of employers reported compensation as their biggest challenge – a bigger challenge than either recruitment or retention.
Rewards include salary, perks, and benefits like health insurance, remote work, and performance-based bonuses. Can roll out initiatives to boost employee productivity by launching learning and development programs, performance management tactics, and incentive programs to motivate employees to do better.
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