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Many companies do not have a separate budget for market adjustments and rely on merit increases to remain competitive.  However, employee pay can quickly fall behind market if the merit budget is 3%, and the market is increasing at a greater rate.  When merit increases are not keeping step with the market, pay compression may result.  You may be faced with having to hire new employees at higher rates than current employees. 

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Top Stories: Lodging & Gaming
How Addictive Is Your Hotel?
To give you a new perspective on your guest service operations, let's reframe a person's hotel experience in terms of chemicals-specifically how a brain responds to micro- and macro-interactions by releasing certain neurotransmitters.
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A Healthy Team Means Healthy Profits
In this modern era we live in, where health is so much the focus of our everyday lives, it makes fiscal sense for organizations to improve the wellness of their employees so that the company can actualize the most of their potential. After all, a healthy team means faster learners, fewer sick days and more efficiency across the board. 
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Hotels Embrace Mind-Body Perks to Keep Guests Healthy
Take the MGM Grand. The hotel's "Stay Well" rooms feature showers with Vitamin C-infused water, air purification, light therapy to reduce the effects of jet lag and mattresses made without harmful VOCs or toxic chemicals and off-gases. 
(Skift)   Read the complete article
Top Stories: Healthcare
Seven Strategic Initiatives For Improving Hospital Flow
The emergency department is connected to the ICU. The ICU is connected to the OR. Discharge and discharge processes are connected to admission capabilities and capacity. You may think that the complexity and interconnectedness of the patient care system makes waits and delays inevitable, but that's not actually the case.  
(Becker's Hospital Review)  Read the complete article
7 Qualities Of High-Functioning Healthcare Teams
Team-based care is one of the biggest buzzwords in healthcare today, but it's been a challenge for traditionally siloed organizations to implement. But there's much healthcare leaders can learn from teams across other industries, not the least of which includes the world of competitive sports. 
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3 Technology Trends Transforming Health Care
The health care industry has always been changing, but what is different about our industry now is that the pace of change has sped up. Keeping up with those changes is almost impossible. More so when day-to-day activity prevents leaders from strategic planning the next three to five year direction of their organization.
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Top Stories: Human Resources
How Did the Recession Affect Workforce Planning?
A great deal has happened in the last 10 years with respect to workforce planning, and you are wise to confirm if you are attracting and keeping the best people. Increased competition for top talent, growing employee disengagement and the demand to provide flexible work benefits have been a critical talent management focus recently.
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4 Rules For Conducting Successful Performance Reviews
Workforce development is a high priority for global companies for many reasons - it generates business outcomes, profitability and, perhaps most importantly, employee engagement.
(BizJournals)  Read the complete article
For the Most Productive Workplace, Assign Employees the Work They Do Best
A 2015 survey from Michelle McQuaid and the Via Institute on Character found that employees perform better and are more engaged in their work when they and their managers focus on building their strengths, rather than improving their weaknesses.
(Entreprenuer)  Read the complete article
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WageWatch provides valuable compensation and salary surveys online across multiple industries and geographic markets to human resource professionals, hiring managers, associations, employers, and other executives at the best price. Our cost-effective online salary and compensation surveys and reports are designed to help employers with hiring employees, employee retention, employee pay and recognition, employee benefits, budget planning, market pricing jobs and salary range decisions.
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