Often when people intend to recruit, they overlook the importance of retaining their best people.
Making sure you’re up to date with salary benchmarking is one of the easiest ways to do this.
Think about it, a team member does some digging and finds they’re on 15% less than market rate and has to approach you to ask you for more. Or worst case, they don’t approach you at all and just leave due to feeling underappreciated.
Now flip the situation.
You do some digging and find that the average market rate has increased. You approach your staff and tell them that they’re getting a raise.
We know which situation we would choose.
Getting new talent through the door is important. But make sure you aren’t under-appreciating your time-served team members who have helped you to get to that stage in the first place.
To assist with this click to download our Salary Survey 2022