Last year, our team of HR experts offered some predictions about the HR trends that could impact businesses in 2023.
Business Management & Strategy
As a leading HR consulting and outsourcing firm, we frequently receive feedback from business leaders who are eager to maximize the potential of their HR function. We have found that the greatest opportunity lies in redefining and reshaping the perception that HR's role is solely administrative.
The 2020s have been an unpredictable decade, to say the least. Stressful events have forced many people to reevaluate their careers, their work-life balance, and their relationships with employers.
In today's highly competitive job market, employers are facing the challenge of attracting and retaining top talent. Simply offering a competitive salary is no longer enough. Employers must take a holistic approach and provide a comprehensive package that meets the individual needs of each employee. This is where the concept of Total Rewards comes into play.
We’ve talked before about how it’s sometimes hard to communicate Total Rewards to employees, especially younger workers. Employees don’t always see beyond their paycheck, and employers struggle to show the value of less tangible benefits.
Leaders spend a lot of time worrying about making their salary structure competitive, and with good reason. Compensation is key to employee retention. If the guys in the opposite building are offering a 20% pay bump, then your employees are going to feel sorely tempted to cross the street.
