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Half of employers offer financial remuneration to help employee retention

Employee Benefits

More than half (56%) of employers have offered financial remuneration to help employee retention during the cost-of-living crisis and staffing shortages, according to research by Peninsula Group. Employers are seeing the value in retaining employees and, in turn, employees are reaping the benefits.

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Employee Retention Strategies Go Beyond Competitive Salaries

HR Digest

employees quit their jobs in a year, indicating an average of 4.2 With numbers as big as these and burnout at an all-time high, it becomes increasingly important to take employee retention strategies seriously and explore what they can do to connect with their employees. How to Improve Employee Retention?

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How inflation affects pay raises

Business Management Daily

One might think inflation negatively affected employers as well—maybe interest rates were too high, or they lost too much money and couldn’t kick any down to workers—but that notion doesn’t hold up under scrutiny. Even with an inflation increase, employees are likely to seek better compensation if they feel their skills aren’t being rewarded.

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5 Best Strategies for Employee Retention

Hppy

Employee turnover is expensive on many levels to the employer. The average cost of replacing an employee is 21% of their annual salary. However, these are complemented by other factors like sustainable workload and periodic pay raises. Pay Raises and Variable Pay Benefits.

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Top 10 Benefits of Remote Working for Employers

HR Lineup

However, when COVID-19 set in, employers were forced to send their employees home to work from there. As a result, it was apparent to many employers that remote working could actually work, and employees could still be productive with proper management. 10 Best Benefits of Working From Home for Employers.

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Base Pay Rates Projected to Increase in 2022

BerniePortal

Inflation and a competitive job market with an amplified emphasis on employee retention. Employers should expect to see a demand for bigger pay raises in this new year, which can cause a lot of added stress and uncertainty when it comes to budgets and employee retention. The result?

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

Business Management Daily

As such, employers must do everything they can to attract and retain high-performing employees, and issuing regular merit increases is one of the best ways to do so. A merit increase or merit raise refers to a pay increase based on an employee’s performance. A staggering 50.6 What is a Merit Increase?