It’s November, and along with setting aside time to be spent with family and friends over the holidays, it’s also time to look toward the New Year. For many of us, that means establishing resolutions and setting goals that we hope to accomplish in 2017. For companies eager to maintain a competitive position within their respective industries, planning for 2017 likely includes establishing a solid salary budget for the upcoming compensation cycle. After all, ensuring that compensation is allocated strategically can have a tremendous effect on your ability to attract top talent and retain high performers.
As the workforce evolves, the world of HR continues to evolve along with it. New challenges, like the emergence of workforce diversity, devices that enable mobile work, and fair pay legislation are affecting companies of all sizes and industries. These challenges have made it more difficult than ever to engage and retain top performers.