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In this episode, we will examine the cold, hard reality of the role that salary and compensation have on talent attraction and retention. This conversation provides some surprising and nuanced insight that could greatly impact how you approach talent acquisition.
Our prescription for this episode: Understand that the influence money has on attraction and retention is complex, and the best thing you can do is better understand the situation you are in if you want to have greater success with your talent.
References Stats: (Coby got two out of three right!)
When it comes to predicting a company’s employee turnover rate, Culture is 10X more effective than Compensation.
(Massachusetts Institute of Technology)
Toxic Culture Is Driving the Great Resignation (2022)
A manager or supervisor directly influences a shocking 70% of an employee’s motivation and engagement.
(Gallup)
Gallup Business Journal (2015)
81% of people who leave their jobs cite dissatisfaction with the work environment as the major reason they started looking for a new job.
(Addison Group)
What Makes Employees Head for the Hills? (2019)
About Our Hosts!
James is an experienced business coach with a specialization in HR management and talent attraction and retention.
Coby is a skilled educator and has an extensive background in building workforce and organizational capacity.
For a little more on our ideas and concepts, check out our Knowledge Suite or our YouTube Channel, Solutions Explained by Roman 3.
