2019 WAGE AND COMPENSATION
HOW ATTRACTIVE GREATER LANSING MANUFACTURERING CAREERS ARE?
See how the region's manufacturing industry is managing wage & comp in their organizations, from salary increase budgets to variable pay to compensation communication.
The overarching theme for the 2019 Compensation Best Practices Report is centered around the idea that it’s becoming increasingly challenging to attract and retain employees in today’s tight job market. This year, we find that nearly half of employers agree that the strong job market has increased their turnover rates. Meanwhile, retention tops the list of reasons for why organizations adjust their compensation strategy. To keep employees onboard in this market, it’s not enough to focus on any single element — you’ll need to get creative with every lever you have in the total rewards mix to motivate the behaviors and results you desire.