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
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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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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.
(Forbes) Read the complete article
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Top Stories: Human Resources
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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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