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How Your Peers Handle Hot Skills, Compression & Sheer Lack of Money
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How Your Peers Handle Hot Skills, Compression & Sheer Lack of Money
Compensation Strategies
The biggest compensation problem faced by HR professionals remains salary compression. It developed during the boom years and has lingered on like a bad hangover. Considering the current economic situation, it won`t be easy to fix, since there is little money now to throw at the problem. Altogether, nearly 20% of HR professionals said that salary compression is their single biggest headache.
Salary compression troubles companies with 600 to 1,799 employees the most, at 27.8%. It also plagues a quarter of firms with 1,800 to 6,999 people.
How Is Compression Being Handled?
Some companies are finding money in the budget to deal with salary compression. "We instituted a larger increase in salary structure for the classes of employees affected most by the salary compression," said a compensation analyst at a government organization, with 6,031 employees in the Northeast.
Source:
http://www.smartbiz.com/article/view/88/1/8
The biggest compensation problem faced by HR professionals remains salary compression. It developed during the boom years and has lingered on like a bad hangover. Considering the current economic situation, it won`t be easy to fix, since there is little money now to throw at the problem. Altogether, nearly 20% of HR professionals said that salary compression is their single biggest headache.
Salary compression troubles companies with 600 to 1,799 employees the most, at 27.8%. It also plagues a quarter of firms with 1,800 to 6,999 people.
How Is Compression Being Handled?
Some companies are finding money in the budget to deal with salary compression. "We instituted a larger increase in salary structure for the classes of employees affected most by the salary compression," said a compensation analyst at a government organization, with 6,031 employees in the Northeast.
Source:
http://www.smartbiz.com/article/view/88/1/8
