The Total Package: Including recognition in the compensation toolkit
Why Should You Care
In a talent-driven economy, employee demands are hard to ignore. Hearing that exiting employees are citing pay as their top reason for leaving1 leaves employers scrambling to please the talent they’re fighting for.
Increasing pay has historically been the first lever to use. But the costs of pay increases and their diminishing returns create a vicious cycle, always costing the company more money, and employees always expecting more money.
It’s time for HR professionals to look at more effective ways to differentiate their compensation packages, by embracing the new world of work and harnessing the power of recognition. Leveraging recognition to drive employee engagement and retention starts with a social recognition and rewards platform.
In this whitepaper
Our whitepaper, The Total Package: Including recognition in the compensation toolkit, explores the compensation package and uncovers its missing component: recognition. We’ll discuss historical compensation packages, elaborate on why they are ineffective today, and share what your business can start doing immediately to attract and retain employees and boost engagement levels, simply by evolving your total compensation package.