Total Rewards | Employee Relations
Here are some important stats about performance reviews: 85% of employees would consider quitting after receiving what they perceive as an unfair performance assessment. Additionally, only 14% of employees strongly agree that their performance reviews motivate improvement.
In today's highly competitive job market, employers are facing the challenge of attracting and retaining top talent. 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 Employee Total Rewards comes into play.
Employees generally expect their company’s salary structure to curve upwards: senior team members have higher salaries than their junior colleagues, while managers earn more than their direct reports.
Total Rewards | Risk Management | Business Management & Strategy | Employee Relations
In April 2024, the DOL issued a final rule increasing the standard salary level for executive, administrative, and professional (EAP) exemptions under the Fair Labor Standards Act (FLSA). This final rule provides for current and future updates of the salary thresholds, as follows::
Total Rewards | Business Management & Strategy
As we approach 2025, crafting an effective salary strategy involves more than just staying updated with market trends; it also requires aligning compensation with the organization's broader objectives and meeting employee expectations. Over the last few years, employers have experienced unpredictable fluctuations in the market.
At Helios, we are often approached by current and prospective clients to conduct compensation benchmarking for their organizations. Typically, it's because they are losing talent to the competition or having conversations with their employees about salaries they found online.
