Part of this includes being honest about what you’re paying employees. Less than one-third of employees feel they’re paid fairly, according to a 2022 Gartner survey, and 34% think their pay is equitable. And while it likely goes without saying, those who believe their pay is inequitable are less likely to stay with their employer and are less engaged at work — 15% less inclined to stay and 13% less engaged.
“Employee perceptions of pay equity aren’t rooted in compensation,” according to Tony Guadagni, senior principal in the Gartner HR practice. “Instead, the main driver of perception is organizational trust — when employees don’t trust their employers, they don’t believe their pay is fair or equitable.”
2. Get More Efficient (Really)
From a recruitment perspective, streamlining the process at every step is paramount. Companies should avoid posting an open role so far in advance that they can’t make a move if they need to, says Johnson.
This also means identifying the situations and needs that are flexible and the things that aren’t, especially when it comes to the desired skills of a candidate. Looking for attitude and aptitude, and acknowledging that some skills can be trained, can go a long way in the long run, he notes.
Mind the Gap
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Accenture’s Kotzorek says they’re seeing increased demand for expertise spanning cloud technologies, cybersecurity, and data and analytics. Robert Half’s Johnson echoes this, noting that there are challenges obtaining both long-term and project staff for anything involving cloud technologies, including network admins, network engineers, system admins, and system engineers.
“Anyone who's trying to hire knows that there are some people available,” Johnson says. “But it's a very small percentage.”
5. Get Creative With High Performers
Whether you’re trying to hire high-performing employees or hang on to the ones in your current ranks, providing these employees with some autonomy about where and when they work may go a long way, Johnson suggests.
It can also mean rethinking what drives them to succeed. At Church & Dwight, one type of high-performers that Pokhriyal calls “bar raisers” may be best served by ensuring they go beyond their core skill set and learn a new skill set. For another type known as “hand raisers,” this could instead mean providing stretch assignments or executive coaching for C-suite grooming.
“There has to be all of that soft skill plus hard skill training directly or indirectly so that the talent has grown to where they want to be — and their choices might keep changing,” she says. “Somebody might have wanted to be on the C-suite track at the beginning of the pandemic, but given everything they see the C-suite going through, they might change their mind. The company should be able to pivot to where the talent wants to be and groom them for that.”
For employees part of the One Demand Data Analytics team at Mars Wrigley, this means having the opportunity to diversify their experience across four technical guilds: data science, data engineering, product strategy, and DevOps engineering.
“When they are joining the [One Demand] team, they are not really doing data analytics, say, for example, only in pricing and promotion,” says Deepak Jose, global head, One Demand Data & Analytics solutions. “The same data scientists will have an opportunity to do some media analytics, something on omnichannel analytics. That's the way we have built the technical guides within the team. … So across each of the guilds, we are able to attract talent quite effectively.”