January 23, 2012

Employee Compensation in 2012: Pent-up Demand By Robert Teal, CCP, CBP

Employee Compensation in 2012: Pent-up Demand

Robert Teal, CCP, CBP

Robert Teal

By Robert Teal, CCP, CBP

 

During the recent recession, numerous organizations froze wages, reduced benefits and hours, and eliminated staff in an effort to remain competitive. By all official counts, the recession reportedly ended over two years ago, yet corporate compensation budgets are still very much stalled in a slump. With unemployment above 8%, many employers feel little or no pressure to increase wages or benefits. However those employees who have foregone raises or even suffered reductions are becoming restless. Yes, they were grateful to have jobs, while at the same they are beginning to question what their loyalty really bought them. Even in the best of times, a rubber band will only stretch so far before it snaps. So what options are available to an organization which needs to retain its talent in the face of little or no desire to increase costs? (more…)

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