Alternative Pay Strategies Can Boost Hiring and Retention Efforts.
Don’t underestimate the constant pressure your top performers are under to defect. With talented people getting harder and harder to find, your competitors are using more invasive tactics to recruit your people.
And, while compensation is a significant investment for any organization – pay can be strategically managed to ensure maximum returns. What is fair compensation for IT professionals? What types of bonus programs can I use as rewards for getting things done right and on time? Can you pay a premium for new “hot skills” talent while keeping current employees with similar skill sets at their current salary? What about extending stock options?
There are so many questions in today’s clouded compensation landscape. However, one thing is certain: Employees want to be recognized and rewarded for their work. This section explores the many types of pay structures currently in use and the impact those programs can have on your hiring and retention efforts.
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