This Week's Herman Trend Alert

Aging World Populations
 

  The Herman Trend Alert

July 12, 2006

Salaries Becoming Competitive Tool Again

For the past few years, money has not been the strongest motivator in the employment market. Meaningful work and life-work balance have become the most influential attractors. People are particularly looking for flexibility in working hours so they can enjoy more personal time.

Indications are that more people are making employment decisions based on personal values. They are looking for work that they can enjoy, people they like to work with, and a work environment that is both comfortable and pleasant. Money has not been a major differentiator, since workers have become satisfied with their earnings levels. Of course, we all want more money in our pockets; compensation has just not been a driving force in choosing between one job and employer and another.

When competition for competent employees intensifies, employers tend to emphasize earnings potential. They increase the levels of wages or salaries—and benefits-—to entice people who actually would have been happy with their current incomes. When workers have a choice for doing what they like for satisfactory incomes versus performing their preferred kind of work for higher incomes, the decisions are easy.

The monetary incentive to leave one employer and join another can be strong, especially if the income level is seen as the only difference. When employers need to increase staff, attractive compensation packages can be effective tools to lure talent from one employer to the competition.

From India comes news that as employers compete in the recruiting and retention wars, salaries have increased substantially. A recent Salary Guide published by Kelly Services reports that India has seen the highest average salary increase of 13.9 percent. The greatest movement is in the information technology-enabled industry, where a 17.9 percent average increase has been experienced.

The Kelly study, the first of its kind, showed that IT, ITes (Information Technology enabled systems), telecom, and pharma were the most active in offering high salaries and instant job offers. Companies in these sectors are expanding and increasingly need more workers.

Wise employers will strengthen non-financial bonds to retain talent, but may still find themselves caught in a bidding war.


© Copyright 1998- by The Herman Group, Inc. -- reproduction for publication is encouraged, with the following attribution: From "The Herman Trend Alert," by Joyce Gioia, Strategic Business Futurist. 336-210-3548 or http://www.hermangroup.com. To sign up, visit http://www.HermanTrendAlert.com. The Herman Trend Alert is a trademark of The Herman Group, Inc."

IGNITE HOPE FOR A YOUNG PERSON IN NEED
Our Trend Alert last December 23rd was about FIRE a non-profit in Detroit helping young people to use music to lift themselves out of poverty. We urge you to support this worthwhile cause with a donation of money or a used instrument? To read more about FIRE and the great work it is doing, see our FIRE Trend Alert at http://www.hermangroup.com/alert/archive_12-23-2015.html.

LOOK YOUNGER-FEEL YOUNGER: AMAZING FOOD SUPPLEMENT NOW AVAILABLE
Joyce continues to be surprised at the number of improvements she and her husband enjoy as the result of taking Micronized Purple Rice: from thicker hair to the disappearance of varicose veins, from improved energy and sleep to faster thinking and the absence of those annoying bouts of CRS (Can't Remember Stuff). It has been found to lower cholesterol and blood pressure, and even reduce blood sugar to normal levels. Why? Because it works on a cellular level. To receive a 5-page article, call Joyce at 336.210.3548 or email her at joyce@hermangroup.com.

BE RECOGNIZED AS AN EMPLOYER OF CHOICE® in 2016
We've seen a strong resurgence in interest by employers in being recognized as Employer of Choice®. Celebrate your employee-centered corporate culture! This coveted award is well worth the effort, yet is not easy to achieve. Download the extensive application at http://www.EmployerOfChoice.com; or for a Word® version, drop a note to Joyce@EmployerOfChoice.com or call Joyce @ 336.210.3548. Get the recognition you deserve?

To read this Herman Trend Alert on the web: http:// www.hermangroup.com/alert/archive_8-24-2016.html.


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