The Great Resignation is over, the red-hot recruiting market has cooled a bit, and inflation is down. That’s some of the good news for employers in 2024. But don’t relax too much – compensation is still important. Claudia St. John from The Workplace Advisors shares how the latest Department of Labor update to the minimum salary threshold for exempt employees could impact employers and compensation planning.
In a recent Compensation Best Practices Report published by Payscale, a majority of employers reported compensation as their biggest challenge – a bigger challenge than either recruitment or retention. And 53% of those employers reported that they would increase focus on development of a compensation strategy for 2024.
To address these challenges, it’s time as an employer to ask some questions.
Connect with us!
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E-mail:
claudia@theworkplaceadvisors.com
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Website:
http://www.theworkplaceadvisors.com
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LinkedIn:
https://www.linkedin.com/in/claudiastjohn/
https://www.linkedin.com/company/theworkplaceadvisors
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