Boosting Salaries May Not Be the Solution
January 18th, 2008In 2008 U.S. employers still find themselves struggling with a shortage of qualified candidates, despite signs of a slowing economy and even fears of recession.
According to a hiring trends forecast by CareerBuilder.com, nearly 20 percent of employers say they will offer more comprehensive benefits in the year ahead in an effort to attract and retain skilled employees. 56 percent of employers expect to increase salaries on initial offers (up from 49 percent in 2007), and they also intend to offer alternate work arrangements such as compressed workweeks, job sharing and telecommuting, according to CareerBuilder. The survey was conducted in November 2007 among 3,016 U.S. hiring managers and HR professionals, and 6,704 U.S. employees, in private-sector companies. (SHRM)
But what if the reward system isn’t the problem?
Carrots across the board may not be enough.
80% of hiring decisions are made on the basis of hard skills, but 85% of turnover is a result of behavioral incompatibility.
- Do you know the best ways to attract and retain talent at your company, for your team?
- Do you have any idea why your current talent would leave?
- Do you know how to hire and retain the “right people” – from defining job competencies to understanding the roles of personal values and motivations?
Data Dome has helped organizations at all levels actually increase compensation and benefits while at the same time reducing overall labor costs.
