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Building a strong compensation strategy: Is location-based pay best?

Insperity

This information is often available from salary reporting surveys. Cost of living refers to the price of goods and services, such as food, gas, housing and transportation, in a specific market. Add a salary premium to geographic areas in which talent that your company is eager to recruit tends to concentrate. Demand for labor.

Logistics 240
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How to tackle wage growth and remain competitive in a tough market

Insperity

Anyone involved in hiring and retaining employees is torn between important and seemingly contradictory objectives: Address employees’ pain and concerns about the increased cost of living so you can prevent them from disengaging or leaving the company in search of a higher salary elsewhere. ( The Great Resignation is ongoing, after all.).

Salary 265
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The high cost of a bad hire – and how to avoid it

Insperity

Consider these results of a 2017 CareerBuilder survey : The average cost of one bad hire is nearly $15,000, factoring in the recruiting, interviewing and selection process; training; and salary. You may have to fly them in for an interview – you may have to pay for airfare, transportation and hotel accommodations, too.

Training 264
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7 strategies for a successful total rewards program

Insperity

It doesn’t just entail traditional salary structures, but additional elements that contribute to employee well-being, job satisfaction, and personal growth and development. Offering unique programs that go beyond traditional salary plus benefits reinforces an organization’s commitment to their employees’ happiness and well-being.

Salary 220
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How to tackle wage growth and remain competitive in a tough market

Insperity

Anyone involved in hiring and retaining employees is torn between important and seemingly contradictory objectives: Address employees’ pain and concerns about the increased cost of living so you can prevent them from disengaging or leaving the company in search of a higher salary elsewhere. ( The Great Resignation is ongoing, after all.).

Salary 218
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10 Rules for Employee Retention Your Competition Will Hate

Insperity

If you have employees who are tied to sales, consider offering them commission on top of their base salary. If your business resides where a majority of your employees use public transportation, consider offering commuter assistance. Outside of health care insurance, research ways to offer your employees a wider variety of benefits.

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Two in five people say they aren’t paid enough to make ends meet

Workplace Insight

With almost 1 in 5 (18 percent) Brits having had no change in their salary since the start of the cost of living crisis in 2021, and 15 percent even experiencing a decrease in their pay, all eyes are on wages as the General Election approaches. Those in the North East have seen the highest pay hikes with a mean salary increase of 4.9