November 15, 2016
Company's 9th Annual Compensation Outlook Survey Reveals More Employers Paying Employees Competitively, and Communication Drives Engagement
WALTHAM, MA--(Marketwired - Nov 15, 2016) - Salary.com, the leader in compensation data, software and services, today announced the findings from its 2016 Compensation Outlook Survey, exploring the link between compensation, communication and employee engagement. At a time when only 35 percent of companies report their employees understand company compensation philosophy, the survey reveals the significant impact of managerial communication on employee engagement and retention.
"As the workforce evolves, companies face many new challenges, such as the emergence of the multigenerational workforce, increased competition and high turnover," said Kent Plunkett, CEO of Salary.com. "How companies compensate their employees -- and how they communicate overall philosophy around compensation -- has a far-reaching impact on their teams, influencing how they attract, engage and retain top-performing talent. Our latest Compensation Outlook Survey explores this issue in depth, revealing just how crucial it is for managers and employees to understand and have meaningful conversations about how compensation is determined."
For the last nine years, Salary.com has conducted its Compensation Outlook Survey to gauge how HR practitioners perform their roles in the face of new changes and challenges. The 2016 edition is based on data gathered from HR practitioners at 287 diverse organizations, sharing insights on trends in hiring and compensation programs and how they manage performance, spend their compensation budget and communicate with managers and employees. Highlights from the survey include: