Dive Brief:
- Recent pay raise announcements by Starbucks and JPMorgan Chase came after a series of similar moves by a number of employers, signaling that HR leaders and C-Suite dwellers are hoping to boost retention within workforces.
- When combined with an uptick of benefits such as extended parental leave, paid sick leave, flexible scheduling, remote work and others, the trend drives home the desire to both retain and attract talent in today's tight labor market, according to the Chicago Tribune.
- But what about workers at employers who are not seeing similar pay bumps or upgraded benefits? The Tribune article says "job malaise" could result, with those companies at risk for losing workers seeking a better culture.
Dive Insight:
The business advisory firm CEB, in a recent report, found that workers' going the extra mile in their jobs is at a four-year low. Meanwhile, active job-seeking is rising indicating a "grass is greener" mindset, according to CEB.
HR touting the advantages of working at their organization as a recruiting tool is not new, but for HR leaders at employers who may not be boosting pay or perks, one option in trying to keep the troops happy is to zero in on the benefits already offered, things such as 401(k) employer matches, education benefits, wellness or other positive programs that already exist but may not be getting enough participation.