I second this. Where are you geographically, what’s cost of living, what are you paying in dollars, do you do bonuses tied to profit, what’s your time off paid policy, 401k/403b matching, short and long term disability, what are your health benefits? The idea of “we’re market competitive or above average” doesn’t matter if everyone pays crap wages. Even huge raises don’t matter if the pay was far below what it should have been for the past decade.
Also ask yourself if there’s some policy you’ve got that’s particularly harmful or obnoxious to staff. There are non compensation related policies I’ve dealt with at work that are unsafe, harm my home life, or are significantly stress inducing daily. Things like mandatory overtime, making it impossible to take vacation, holding me hours over my end of shift for dumb stuff.
As a worker I find it hard to believe any workplace with truly excellent compensation packages, good work environment and good flexible time off can’t retain staff.
I second this. Where are you geographically, what’s cost of living, what are you paying in dollars, do you do bonuses tied to profit, what’s your time off paid policy, 401k/403b matching, short and long term disability, what are your health benefits? The idea of “we’re market competitive or above average” doesn’t matter if everyone pays crap wages. Even huge raises don’t matter if the pay was far below what it should have been for the past decade.
Also ask yourself if there’s some policy you’ve got that’s particularly harmful or obnoxious to staff. There are non compensation related policies I’ve dealt with at work that are unsafe, harm my home life, or are significantly stress inducing daily. Things like mandatory overtime, making it impossible to take vacation, holding me hours over my end of shift for dumb stuff.
As a worker I find it hard to believe any workplace with truly excellent compensation packages, good work environment and good flexible time off can’t retain staff.