The frequency of salary reviews can significantly impact employee satisfaction. Regular and frequent salary reviews can make employees feel valued and appreciated, which can increase their job satisfaction. On the other hand, infrequent salary reviews may lead to feelings of being undervalued and unappreciated, which can decrease job satisfaction. However, it's important to note that salary reviews should be fair, transparent, and based on performance to have a positive impact on employee satisfaction.
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How can you make your team feel valued and stay motivated? Wrap up the year on a high note and recognize and reward the high achievers on your team. U...
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Deloitte research indicates that the overwhelming majority of companies – 91% of those surveyed – still follow the conventional practice of conducting salary reviews only once a year or less. Even worse, organizations rate their rewards programs with a Net Promoter Score of -15 and only 21% say they would recommend their program to others. Business and HR leaders are aware of the problem, but only 6% of respondents to a Deloitte survey indicate their organizations are good at attracting talent, and only 8% say they are good at retaining it.
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