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Designing Competitive Compensation Packages to Retain Talent

Accendo Technologies

Written by Sheu Quen • 4 minute read • September 25, 2024 Are your employees satisfied with their compensation, or are they looking elsewhere for better offers? That’s where a competitive compensation package comes in. Our article explores the vital role that well-designed compensation packages play in retaining talent.

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Employee Promotion: Your 7-Step Guide on the Types & How To Promote

AIHR

Vertical The employee advances to a higher position with additional responsibilities, compensation, and authority. It invites all eligible and interested employees to apply and compete for the promotion. HR tip Providing career development opportunities is a crucial step in preparing employees for promotion.

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What is Employee Poaching & How to Deal With It?

HR Lineup

Attractive Offers: Higher Compensation: To entice employees to leave their current positions, poaching companies often offer significantly higher salaries, bonuses, or other financial incentives. Career Development: Provide clear career progression paths and professional development opportunities.

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30 Performance Review Examples & Phrases To Use (+ 15 Phrases To Avoid)

AIHR

monthly) on the goals set during the review, and provide employees with ongoing feedback to help them develop further. HR tip Think about performance review conversations as an extension of career development. The manager evaluates the employee’s performance based on work objectives, competencies, and previously set goals.

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Should SMBs use the same HR strategies as enterprises? It’s complicated.

HiBob

Let’s begin by exploring some enterprise-level HR practices SMBs can learn from: Structured, consistent HR processes Enterprises excel at creating structure and continuity, leveraging automated processes, integrated tools, and well-defined frameworks for everything from hiring to career development.

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3 strategies to protect your employee learning budget for 2025

HRExecutive

. - Advertisement - For example, if your organization has a high degree of internal mobility or a high volume of new hires, it makes sense that you might be spending more on learning and development than your benchmarking peers. Organizations competing to attract and retain talent also tend to spend more on learning and development.

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What is Headcount Reporting? A Complete Guide for Employers

HR Lineup

High turnover can be an indicator of underlying issues such as poor management, inadequate compensation, or lack of career growth opportunities. By analyzing headcount reports alongside turnover metrics, HR teams can gain valuable insights into retention challenges and develop strategies to improve employee satisfaction.