Increasing base salary is one of the best retention and engagement strategies, according to a new study. Mercer gathered responses from more than 320 employers in the U.S. and Canada about their views on attracting and retaining employees.
Mercer conducted an attraction and retention survey and asked respondents what they believed had the strongest impact on employee retention and engagement. Here’s what they found:
- 41% said base salary increases
- 36% said short- and long-term variable pay
- 35% said training and career development
The survey also reported on hiring statistics, including:
- 27% of employers surveyed are expanding their overall workforce,
- 45% are hiring to replacement levels only
- 25% are hiring just for critical areas.
The results also showed that even in the economic situation, almost half of the respondents said employee engagement increased over the past 12 to 18 months.
Employee Benefit News