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Friday, 1 April 2011

Employers urged to cut back on costs to retain staff with pay rises

Employers should try to reduce their business costs in order to give their staff pay rises, one expert has suggested.

Charles Cotton, performance and reward advisor for the Chartered Institute of Personnel and Development, said companies, some of which may employ people in sales jobs, should do everything possible to retain workers.

"It's not uniformly the case that all employees are suffering the same," he said.
However, "you may have to increase your salaries just to keep up with your competitors", Mr Cotton advised.

He said it is crucial for organisations to look at other areas where they can cut back in order to fund pay rises.

Sheila Attwood, editor of pay and benefits at XpertHR, recently said businesses are increasingly realising that offering employee benefits is a great way to boost candidate interest.

She said many companies are beginning to reward employees who have stayed loyal to them in the current economic climate.

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Posted by Wayne Bly and Nikki Barrister ADNFCR-1617-ID-800484685-ADNFCR

Source: The Sales Director News

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