Some companies especially retailers as a tactic often raise the wages of their employees. The idea is of course to be better employers, improve employees’ motivation levels and curate a more positive image conducive for future talent recruitment. While in some particularly mundane jobs, this may have a short-term positive spill-over, in the long run, higher wages alone cannot change employees’ views on mediocre jobs. This is because of the prevalent obstacles which do not dissipate thanks merely to higher wages. For better talent management, companies must instead ensure more predictable schedules. They must also seek to provide the minimum take-home pay. In spite of higher wages, employees often fall below the minimum bracket as they are not allotted the due 40-hour work weeks. This is especially true for the contractual workers. Another thing companies must proactively look at is to draw up the career paths of the employees. Good employers such as Quick Trip and Costco have been rewarded with higher employee retention rates due to these practices of theirs.

Source:https://hbr.org/2018/10/higher-wages-arent-enough-to-turn-mediocre-jobs-into-good-ones

Uploaded Date:05 November 2018