What steps are employers taking, reward-wise, to retain their top performers as the economy and job market revives?
A recently released study, Reviving and Inspiring the Workforce: 2011 Compensation Trends, by Buck Consultants, reveals (among other findings) what actions the participating 105 U.S. organizations are taking to hold on to their top performers.
As the outtake of the "top five" actions shown below tells us, providing new career development opportunities is the most popular tactic being pursued - a solid step, it would seem to me, given the target population. Running behind that are three cash compensation actions - market adjustments, larger increases and larger bonus opportunities. Rounding out the top five actions is using non-cash recognition to reinforce and show appreciation for what these employees are contributing.