article thumbnail

Salary Benchmarking: The Key to Attract and Retain Top Employees

Vantage Circle

You can establish what a ‘competitive’ salary is through a process called ‘salary benchmarking’ Let’s take a look at what salary benchmarking is and how you can use it to bring the best of the best to your business. What is Salary Benchmarking? How to do Salary Benchmarking 1.

article thumbnail

7 Employee Engagement Models To Help Improve Engagement (In 2024)

AIHR

Conley proved the effectiveness of his approach by saving his company, Joie de Vivre Hospitality, from financial ruin following the dot.com bust. Step 3: Benchmark your model Pay attention to what leading companies are doing right by benchmarking your chosen model against theirs.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

5 Steps To Implementing A Successful 4-Day Workweek Trial

Chief Executive

A more traditionally structured corporation will have an easier time implementing this approach compared to the hospitality, medical or construction industries, where services can be required at all hours. Reflect upon the nuances of your industry. Determine how you’ll measure success Identify your business goals and how you’ll measure them.

article thumbnail

Chick-fil-A CEO Dan Cathy Never Dumbs Down the Music—He Upgrades the Orchestra

Chief Executive

Cathy says that whether you want to be a world-class orchestra or a world-class business, you need to benchmark against other world-class organizations, even when they don’t serve the same market as you. These include: • Where Cathy often looks to find the most creative thinking and innovation (hint: it’s not the hospitality industry). •

article thumbnail

dog rampage in the office, temps accused me of bullying, and more

Alison Green

I have only ever worked at non-office jobs (Kroger, waitressing, currently a hospital employee, etc.) But it sounds like at least one of the two people who accused you has their own severe toxicity issues, and you’ve got to factor that in too. What do people who work in offices do? So, what is everyone doing?

article thumbnail

Smart Benchmarking Starts with Knowing Whom to Compare Yourself To

Harvard Business Review

Comparing your organization to peers – also known as benchmarking – lets you understand how you’re doing, identify performance gaps and opportunities to improve, and highlight peer achievements that you could emulate, or your own achievements to be celebrated. For example, suppose you want to compare the U.S.

article thumbnail

How to Calculate and Reduce New Hire Turnover at Your Company

AIHR

Different organizations have a different benchmark for what counts as new hire turnover. For example, certain sectors such as hospitality have a notoriously high turnover rate, so a shorter period may be more suitable. Reducing new hire turnover, therefore, helps you optimize costs and improve your talent acquisition and onboarding.