Elevating HR Newsletter

Money talks when attracting and retaining talent. But pay is only a part of a much larger compensation conversation.

In this week's newsletter, we break down how organizations are thinking differently about compensation to stay competitive in today's labor market.

Competitive Comp

As Parks and Rec fans, we couldn't resist this gif (via Giphy)

Think bigger. The organizations that are winning the race for talent are the ones that take a more expansive view of comp.

Here's how they look at it differently:

• They see beyond their industry. Feel like you're in an ever-escalating wage war within your sector? Workforce winners side-step that battle by looking beyond their direct competitors to a broader talent market.
  
  
• They have a plan supported by validated data. Many employers and employees dread discussing pay. Talent leaders get ahead of the conversation with a data-driven strategy that's regularly and transparently communicated.
  
  
• They highlight their strengths and don't hide their weaknesses. They don't overpromise and underdeliver on the employee experience. Instead, they accurately spotlight where they excel AND their areas for improvement.
  
  
• They ditch annual merit adjustment for market-based pay. Employers that attract and retain top talent understand jobs have a fair market value. So they ditch pay based on title and tenure for strategies that keep up with the market.
  
  
• They understand that compensation is not one-size-fits-all. People costs are typically one of an organization's top three expenses. Strategic businesses don't delegate it to a single line item. They take a detailed approach to maximize ROI.

Go deeper (4 min. read) ->

What Else Caught Our Eye This Week

GR is remote-ready. Our hometown came in second on Livability's top remote-ready U.S. cities, thanks to factors such as job flexibility, internet speeds, and quality of life. Read.

HR block. From enhancing people data security to streamlining resumes to quickly paying gig workers, blockchain has the potential to reduce HR redundancies significantly. Read. 

Elevating equity. Recent research has found inclusive companies don't frame diversity as a hiring problem but, instead, as an integral part of their business strategy. Read.

Pull, don't push, performance. Typically, performance only improves modestly (or gets worse) after feedback. Teaching and coaching, however, deliver meaningful results. Read.

Junior officers. In the post-pandemic, WFA world of work, Gen Y & Z may be the ones spending the most time IRL — driven by FOMO on networking and mentorships. Read.

Finding and Retaining Employees in a Tough Labor Market

Looking for more talent tips? Join our own Jon Brickner on Wednesday, February 17, 9 am, for this free panel discussion on finding and retaining employees in today's tough labor market.

Jon and other thought leaders from Gibson, Ritsema Associates, CSM Group, and Southwest Michigan First will share tips, insights, and take questions. Register.

Talent Watch

Current searches. We lead searches for a variety of positions across a variety of industries. Check out a few of our open ones below. See any that would interest your network? Please, share with them!

• Associate Financial Planner / Paraplanner, Midwest Capital Advisors. Link.
• Chief Financial and Operating Officer, Frey Foundation. Link.
• Senior Buyer, Natural Choice Foods. Link.
• Business Intelligence & Research Manager, The Right Place. Link.
• Vice President of Finance, Bouma Corporation. Link.

Additional Resources

[WEBINAR] Creating Safe Office Environments. Join our own Julie Burmania on Tuesday, February 23, at 7:30 am for this free panel discussion from EPI. Register.

Effective executives. Executive director performance reviews are a critical part of a board's role. Make sure yours are as valuable as possible with these tips. Read.

Streamlining recruitment. Hiring has a lot of moving parts and potential bottlenecks. Here are 11 ways to make finding the right fit a frictionless experience. Read.

Remote expenses. There's plenty of factors to consider when creating a fair and equitable work-from-home expense policy. Use these five questions to get started. Read.

New normal. New challenges. Whatever obstacles you're facing, consider us your HR problem-solving sounding board. Contact us.

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