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5 Benefits to Include In Your Employee Retention Strategy

Best Money Moves

These numbers suggest that the period of record employee turnover known as the “Great Resignation” is not slowing down. . It costs six to nine months of an employee’s salary to hire and acclimate their replacement, according to data from SHRM. So, it’s important employees feel supported when taking a break.

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3 Types of Compensation Packages To Consider and Why

Achievers

Some folks are hourly, some are salaried, and depending on what role they play, others receive bonuses or commissions based on their performance. Here are the three most popular types of compensation packages and a few notes on who might be most attracted to them. Straight salary compensation. Simple, right? Not so much.

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5 Ways To Create the Perfect Compensation System

Hppy

When will salary changes and review processes be implemented? When performing pay audits, keep in mind the compensation patterns in your industry. Ensure your Compensation System is Compliant . A benefits package for employees will be part of your complete compensation plan. Unlimited PTO. Be Creative .

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Top 15 Compensation Management Tools in 2021

Vantage Circle

In layman’s terms, compensation management software allows an organization to plan and administer employee compensation packages in an organized manner. While designing a compensation planning tool, a company may also have internal factors to consider, such as the internal salary structure. Salary Structures.