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.
Keeping hold of your best staff has always been a challenge. Experienced managers have a whole toolkit of techniques they use to identify retention risks and minimize staff turnover rates. But those techniques often involve face-to-face contact with the team. What happens when you’re trying to manage a group of remote workers?
Did you know that most people consider themselves underpaid? One study shows that 64% of employees feel underpaid despite receiving the market average. A raise might not help the situation — 35% of people think they’re getting shortchanged even when they earn above average.
Stress has long been a part of working life. In previous years, one in three workers said that they typically feel stressed at work. Since the pandemic, however, stress levels have skyrocketed, as employees have scrambled to adapt to a world of remote work while also worrying about their family’s health.
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.
Metro’s SafeTrack program began this weekend and I heard a loud groan resonate throughout the entire DC Metro area when the schedule was announced. While everyone is complaining about Metro’s SafeTrack plan to accelerate track maintenance and squeeze three years’ worth of work into one year, we have to assume this plan was the best choice for our own safety and the reliability of the Metro so many of us rely on daily.