Remove Books Remove Pay Raise Remove Profit Sharing Plan Remove Salary
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Employee Retention Strategies Go Beyond Competitive Salaries

HR Digest

A Gallup report stated that the cost of replacing an employee could range from one-half to two times the employee’s annual salary. In her book Keeping the People Who Keep You in Business , Leigh Branham recommends companies actively work to retain key employees, at least the top 80 percent.

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10 Unique Extrinsic Rewards That Your Employees Will Love In 2023

Vantage Circle

The survey also found that 80% of employees would choose additional benefits over a pay raise. Not just salary. Profit-sharing Plans. Hence, enter the profit-sharing plan. According to a Gallup poll : 40% of employees want profit-sharing options as a part of their compensation plan.

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