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Rewarding an employee for the work they have done is a sure fire way of ensuring loyalty and successfully managing employee retention. After all, we all want to feel valued and employees want to know that if they hit targets and work hard with the right attitude, they won’t be overlooked.
However, not every business has a clear salary strategy in place to offer these rewards and may even argue if a pay rise is really a great way to acknowledge the contribution of staff. Evidence shows that pay rises can reinforce employee value and in turn, make those employees feel appreciated. Productivity won’t be lost, in fact in most cases, it will improve.
With flexibility and benefits now featuring heavily in the equation of choosing a job, salary and an existing pay rise structure can often tip the balance. Yet, market forces can have an adverse effect on any potential pay rise, so knowing your salary will keep you in good stead. Our salary survey tool is a good place to start, but what else do you need to know?
We spoke to Isabel Cutts, Managing Director of Page Personnel, London & South East, to get her valuable insights into the subject of pay rises and the myths that surround them. For example, is a pay rise the one thing employees value most above anything else?
Watch our video to find out more about the 3 biggest pay rise myths.
To explore how we can help source the right talent for your team, get in touch with your local Page Personnel office today. Our expert consultants are specialists in their sector and the local market they recruit within. We can provide in-depth market insight and unique advice on recruiting the talent you need.