Yesterday, Salary.com announced the findings of their recent economic impact survey, conducted across 400 of their clients. Here's a quick synopsis of some of the HR survey findings:
As an human resources exec, this survey report may seem like old news to you. However, SVP of Marketing & Strategy at Salary.com, Brent Kleiman, warns against holding off on performance rewards because they can demotivate employees.
If you're under budget constraints and can't sell management on performance based increases, what are you doing to keep employee satisfaction, morale and engagement up?
• 78% have had human resource policies impacted by the current economic environment
• 53% implementing wage freezes
• 52% have had layoffs over the past year
• Approved merit increases are expected to be around 1.5-2%, down from 2009 estimates of 3.6% to 3.9%
• 53% implementing wage freezes
• 52% have had layoffs over the past year
• Approved merit increases are expected to be around 1.5-2%, down from 2009 estimates of 3.6% to 3.9%
As an human resources exec, this survey report may seem like old news to you. However, SVP of Marketing & Strategy at Salary.com, Brent Kleiman, warns against holding off on performance rewards because they can demotivate employees.
Top employees will always be in demand, so it is prudent to allocate some budget toward rewarding high performance, he said in his statement. It may be a tough sell to management, but the cost of losing superstars far exceeds that of an incremental increase during performance reviews. Organizations don't want to get behind competition for their top performing talent once the economy turns around.
If you're under budget constraints and can't sell management on performance based increases, what are you doing to keep employee satisfaction, morale and engagement up?
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