[Webinar] 2019 Compensation Best Practices Report
2018 was a record year of job growth, with businesses adding 2.6 million jobs. Recent news shows that some employers are hiring workers without even meeting them in person and employees are “ghosting” employers due to the increased number of opportunities to choose from. With demand exceeding the supply of labor, nominal wages ticked up 3.2 percent year over year. Demand for workers is strong and has reached levels where workers are feeling empowered to make moves.
Workers were also job hopping in record numbers in 2018. Global HR consulting firm Mercer surveyed 163 large employers in 2018 and found that voluntary turnover the year before, not including retirements, accounted for 15.5 percent, up from 14 percent the previous year. Additionally, employees who have not already quit are likely evaluating their opportunities.
It will prove increasingly difficult to attract and keep the right people without ensuring your compensation philosophy, strategy and practices are in close alignment with your values as an organization.
In 2019, we predict the organizations who will have the most success attracting and retaining talent will do the needed work to allow their core values to drive decisions around their compensation approach.
The best way to focus on cultivating a strong pay brand, and employer brand overall, is to genuinely focus on your employees as much as you focus on customers, profit and investors.
At a time when job hopping has become a shortcut to moving up and earning more — it’s more important than ever for you to double down on retaining the employees you have today.
Attend this webinar to hear key findings from our latest Compensation Best Practices Report (CBPR) report. We will cover:
- Key findings from the CBPR around attracting and retaining talent
- Where employees and employers don’t see eye-to-eye
- Tips on what you can do to retain and attract employees
- Challenges that lay ahead in 2019