Overcoming Employee Retention Challenges with Compensation Analysis (1)

1
OVERCOMING EMPLOYEE RETENTION CHALLENGES WITH
STRATEGIC ANALYSIS
2

• 77 of employers globally are struggling to fill
  job vacancies.
• According to ManpowerGroup, 87 of U.S. employers
  list talent shortages as a major challenge in
  2023.
• Companies with non-competitive compensation
  packages are 34 more likely to lose top
  candidates.
• As per the LinkedIn survey, top performers are 2x
  more likely to leave for a 10 pay increase.

Compensation Analysis Real-Time Data
3
Benefits of integrating compensation analysis
into employee retention strategies-

• Recognizes and rectifies pay disparities for an
  inclusive workplace.

1

• Identifies and addresses gender or role-based pay
  gaps through salary compensation analysis.

2

• Aligns pay practices with industry benchmarks for
  competitiveness.

3

• Builds a positive employer brand with fair
  compensation practices.

4

• Proactively addressing compensation issues saves
  on recruitment and training costs.

5
4
PRO TIP CHECK OUT THE SALARY CALCULATOR ONE OF
THE BEST COMPENSATION ANALYSIS SOFTWARE TO SEE
THE AVERAGE PAY FOR SPECIFIC JOBS IN DIFFERENT
LOCATIONS. SALARY CALCULATORS CAN PROVIDE
SNAPSHOTS OF AVERAGE SALARIES FOR SPECIFIC ROLES
AND LOCATIONS. USE THEM TO GET A GENERAL SENSE OF
MARKET COMPETITIVENESS AND IDENTIFY POTENTIAL
OUTLIERS WITHIN YOUR INTERNAL DATA.