Instead, companies should reiterate their mission, vision and values. “Double down on what makes you a good place to work,” he said.
Johnson recommended that executives consider which employees they most want to retain and make sure they are satisfied. He said that many companies don’t have significant differentials between compensation awarded to their stars and average employees.
“It is hard to pay some people more and some people less. It is human nature to want to even everything out,” Johnson said. “How many people get zero raise? Not enough. How many get to 10 to 15 percent? Not enough.”
Society for Human Resources Management (SHRM) / November 11, 2018
