HR & Indigenous Relations
The reasons why merit pay increases are important are that it keeps top performers right where the organization needs them, keep unqualified employees from becoming managers, reward the experts that drive your organization, and attract more top performers.
Your organization needs good benefits because they will help create loyalty, increase employee health, reduce employee stress, reduce bad turnover, attract top performers, increase productivity, and increase revenue.
The top reasons to give employees a yearly cost of living pay increase are so you can retain good employees, build trust and loyalty, make employees feel safe and secure, attract good employees, reduce loss of organizational knowledge, and reduce bad turnover rate.
The top five reasons for paying higher than the industry standard are an increase in employment safety, gaining the image of being the best employer, attracting top performers, creating a “good” employee turnover rate, and generating higher profits or productivity. Read below for more details about each!
You should pay a living wage because it helps your employees concentrate on work, it improves employee loyalty, and improves your organization’s image. All these lead to happy employees, happy clients, and more sales! Read below to get all the details.