a better idea of what the total compensation could look like without promising anything to them .
It also helps to state what the minimum compensation is . In fact , it ’ s required in many states now to state the compensation on the job description . You can always caveat it by saying there might be flexibility depending on experience level , but it is a good starting point and engenders a lot of trust with candidates . Currently , we ’ re seeing that when we reach out to a candidate , they ’ ll email back and directly ask what the compensation is for the role . Five years ago , that just wasn ’ t the protocol . I think that kind of transparency is much more expected now .
Keep them on board Alison Harrigan : Most of our best-in-class clients base increases and bonuses partially on company performance and partially on personal performance . Companies should have clear metrics on things that are going to play into your promotion , increase or bonus . Where we see the most employees get frustrated is when it ’ s just a black box and it ’ s not based on anything you ’ d even be able to track .
Workforce 2024 : Korn Ferry ’ s Global Insights Report features data from 10,000 professionals about searching for a new job , staying with a current employer , how organizations can motivate their workforce and other insights into today ’ s workplace .
“ Most of our best-in-class clients base increases and bonuses partially on company performance and partially on personal performance .”
— ALISON HARRIGAN
Candra Bryant : A lot of organizations now are moving away from a true annual increase and shifting to ongoing conversations about performance . Find out what ’ s working well . Why do they like working there ? What resources do they need to be successful ? Then , use their answers to truly deliver valuable feedback . Employees need to know you ’ re deeply devoted to them and to their success . Tie pay increases to your budget and where folks are in relation to market . So , if you have two people who have the same performance scores , the person who is earning below the 50th percentile might get a significantly higher increase than someone who ’ s well above that 50th percentile range . Don ’ t just go in with a three percent increase for everybody , but really tie it to where they fit within their particular pay grade . Julie Keller-Callaghan : Sit down and say , Okay , this was our annual revenue this year . Of this annual revenue , this percentage came from the treatment room … this percentage came from retail … this percentage came from group business . And perhaps we want to have five percent yearover-year growth : This is what next year ’ s goals are going to be . So when somebody comes in , you can say , Your increase or bonus will be tied to achieving this . Be really clear . In a perfect world , the employer is making more money , and so is the team along with them . n
KRISTINE HUFFMAN , LICSW , provides Mental Wellness 1:1 services at Canyon Ranch Lenox . Formerly a partner with Hutchinson Consulting and an ISPA Board member , she brings more than 30 years of experience in hospitality and human services , including providing leadership , psychotherapeutic services , staff training , program development and brand direction for the award-winning Canyon Ranch , Miraval and Travaasa Resorts .
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