The first networking event I ever attended, I lasted five minutes,” says Liz Lynch, author of Smart Networking (McGraw Hill, 2008) and founder of the Center for Networking Excellence.
The number of U.S. companies implementing cost-cutting measures, including salary freezes and smaller pay raises, rose sharply from October to December 2008, according to a survey by consultancy Watson Wyatt.
Far too many employers spend far too little time talking with employees about compensation, according to Rebecca J. Elkins, SPHR, who heads up Dallas-based Elkins Consulting LLC, which specializes in compensation and employee communications.
Arming themselves in a battle to attract and keep qualified employees, employers are starting to customize the total rewards package they offer to meet employee needs, according to the 14th annual Top Five Total Rewards Priorities Survey.
Cash is king for most compensation plans. However, many organizations use non-cash awards, incentives and recognition programs to supplement cash compensation and improve their total rewards programs.
Pay for performance is growing in popularity, as the percentage of workers who say that high performers at their company receive more money and benefits than poor performers rose from 35 percent in 2006 to 41 percent in 2007.
