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Tag Archives: compensation and benefits
Compensation and benefitsSalaries in segmentSalary negotiation
On the labour market, our career performance is valued by our salary and this money is spent on the things we need and want. The amount of our salary has a multitude of effects on our everyday life and its quality. There are even studies that have examined the connection between salary and personal happiness. According to the international salary portal, salary is still one of the most important criteria when considering a new job and survey results show that finding a better paying job tends to be a more effective strategy than negotiating a higher salary from a current employer. Why are people increasingly sensitive to how much they earn? Why is a salary such a critical part of our lives?
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Compensation and benefits
When a company decides to hire new employees, educates them, invests in a probation period and all the requisite technologies, understandably, it expect staff to stay as long as possible. But there is always churn. The Paylab Loyalty Report shows that, in general, loyal employees working for one employer for more than 5 years are in the minority on the labour market at only 27.5%. The largest group is those who are employed for less than 2 years. Attitudes of Millennials and Generation Z are even more complicated, because they have a tendency to consider their career challenges more often and look for opportunities elsewhere. What specific action steps can employers take in order to retain employees on board longer? How many employees do receive loyalty bonus?
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Compensation and benefits
Companies care about keeping their employees fit and motivate them towards a healthy lifestyle with many non-financial benefits. Large employers in particular try and do everything they can in terms of supporting health and prevention to contribute to the right lifestyle among their people. Corporate employee care now incorporates health programmes to support healthy habits among company employees. Essentially, this is risk management in favour of a healthy workplace. Companies engage in these programmes voluntarily and often invest large amounts of money in them.
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Compensation and benefitsSalary negotiation
Conditions have never been better on the job market for employees to push for and negotiate conditions with which they will be truly satisfied. Skilful and capable people on the market are few and far between, and HR professionals have responded by thinking of inventive ways to attract and retain the best talent for their companies.
All companies internally assess employees based on the added value they deliver to the business, their leadership, support, relationships, and especially in terms of the ROI (return on investment) they deliver. If you’re one of your company’s key employees, it’s good to know both your internal value and your overall market value, which is primarily determined externally, outside the company, by comparing your salary to the market value on Paylab.com.
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