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How inflation affects pay raises

Business Management Daily

Some saw typical wage growth and bonuses, but most of us received salary cuts as inflation ate up more and more of our paychecks. Companies like American Airlines received billion-dollar bailouts in the Payroll Support Program to make up the difference, but they chose to use the money on executive bonuses and a fleet of new jets instead.

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What’s a merit increase, and should your business use them?

Business Management Daily

Retaining top performers has become a serious challenge for recruiters in recent years. A merit increase or merit raise refers to a pay increase based on an employee’s performance. Merit pay is a permanent increase to an employee’s base salary and tends to go hand-in-hand with regular performance reviews. A staggering 50.6

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

Insperity

Whether you realize it or not, if you’re hiring employees or giving out pay raises, your company already has a compensation philosophy. Because it: Serves as the foundation and principles for how your company pays its people. Examine why your pay practices are in place. Embrace pay transparency.

Salary 97
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12 Rewards & Recognition Ideas in the Manufacturing Industry to Improve Engagement

Empuls

Lower turnover rates lead to cost savings in recruitment, training, and reduced disruptions in production. Performance bonuses Performance-based bonuses provide a direct financial incentive for employees to meet or exceed their production targets. This can significantly boost motivation and drive among manufacturing employees.

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Is Your Employee Asking for a Raise? Here’s What to Do

Patriot Software

How much money would you spend on recruiting a new worker? Examine pay raise alternatives. If you can’t afford a pay raise but want to show a deserving employee you value their work, you have options. Consider offering a pay raise alternative, like a bonus, more paid time off , or flexible scheduling.

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

Insperity

Whether you realize it or not, if you’re hiring employees or giving out pay raises, your company already has a compensation philosophy. Because it: Serves as the foundation and principles for how your company pays its people. Examine why your pay practices are in place. Embrace pay transparency.

Salary 82
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Guest Post: What Do Caregivers Look for in a Job?

Hireology

As you work to make your recruitment strategy as effective as possible, it’s important to have a clear understanding of what caregivers look for in a job and why they would choose your agency. What this means for your agency : Many home care owners worry that the only way to combat caregiver shortages is by paying significantly more.