How to Retain Employees Without Paying More

Pre-Pandemic it was already hard to hire & retain good staff, but now with so much uncertainty in the world and people re-evaluating their life goals, it’s even harder to retain employees.

Especially when in some cases up to half of workers are contemplating leaving their current jobs, what do you do when you want to retain good staff?

The typical solution is to throw more money at the problem (i.e. increase salary) but that’s not necessarily the answer.

According to a study done by Lattice, a people management platform, they found there is a way to keep staff without having to increase pay…

…and that is to improve career transparency.

More specifically, if your company can demonstrate a clear career path and how you will help them reach a higher career path within your company, you might just prevent them from leaving for greener pastures.



FINANCE & MONEY EDGE

New Zealand’s central bank is the latest to increase interest rates (the first time in the last seven years).

Norway’s central bank had raised interest rates the month before.

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