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Sudden shifts in employees’ benefits needs and preferences since the onset of the pandemic have pushed many employers to reconsider their offerings to ensure they are providing options that will appeal to all kinds of employees.
One big reason for the changing preferences? More employees are working remotely. Employers now have to accommodate onsite and offsite workers alike with various offerings.
Last year, a new workplace buzzword became all the rage: quiet quitting. In short, quiet quitting means doing the sheer minimum the job requires, usually with the goal of achieving true work-life balance. It’s sort of the reverse of hustle culture, and evidently Americans aren’t too fond of it.
“In a time when inflation is rising and candidate expectations are changing, a simple salary hike will not be sufficient to attract and retain talent. Organizations need creative solutions to differentiate themselves from competitors. Walter Sabrin, senior vice president of recruiting services, VensureHR, discusses five strategies to fight inflation and improve hiring and retention.”
There’s an obvious problem creating unrest with workers today, and it’s creating a new battle for talent: inflation is increasing at a yearly rate of around 8%, while wages are increasing by roughly 5%.
With their hearts in the right place, nearly two-thirds of U.S. employers are increasing compensation budgets due to inflation. Others are putting the money towards recruitment and retention efforts, or simply sending bonuses to top employees. These attempts have proven relatively ineffective.”
“In 2019, Latin-owned businesses contributed more than $2.7 trillion to the U.S. economy. Although these businesses have proven to be some of the highest opportunities for investors, they are the most overlooked, with less than 1% of funds from today’s top venture capital and personal equity investors going to them.
As true partners, Vensure’s Latin American Affairs team will work diligently to provide the Latin and Hispanic business community with exceptional employee benefits, technology, expertise, and an ecosystem that will help your businesses thrive.”
NYC is one of a few areas in the US leading on salary equality, as pay transparency laws went into effect today.
