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The Future Is Here
There is a clear opportunity for employers to rethink the transactional nature of compensation and instead view it as an investment made in employees to meet their needs through all stages of their lives as well as the company’s long-term growth.
Battle for talent is real
According to Gallup’s 2022 State of the Global Workplace Report, 71% of respondents in the US say now is a good time to find a job.
Top employees have their pick of top companies to choose from and have leverage to negotiate. Compensation must be aligned to both individual and company performance.
Today’s compensation model addresses the needs of yesterday’s workforce. And the employees aren’t often considered: “79% of people who quit say ‘lack of appreciation’ is the main reason for leaving.”
There’s a real opportunity for organizations to create a new way of paying employees that addresses the needs of today’s workforce and helps employers attract and retain talent.