Tuesday, February 11, 2014

Setting Up an Employee Retention Plan - A study by Artur Victoria

In an overhaul the exempt salaried compensation program attitude surveys and exit interviews strongly indicate that two out of three voluntary resignations of exempt, salaried employees are due in large measure to feelings of dissatisfaction associated with compensation. Specifically, employees note that there has been no upgrading of the exempt salaried pay structure for the past five years; individual pay increases have failed to keep pace with increases in the cost of living; pay increases are granted every 16 months on the average, and there seems to be a tendency to give uniform pay increases, thus failing to recognize superior performance while overpaying mediocre and poor performers. A significant contributing factor here is the absence of position descriptions, performance standards, and performance appraisals. Also contributing to the problem is an absence of control on the number of people hired by certain functions, and formal organization planning is nonexistent. Ten action steps are indicated for this: leia todo o artigo