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3 Reasons Why Your Next Hire Will QuitMay 9, 2014
Business owners often think they are competing for talent from like-kind businesses. Yet, pay must be relatively competitive within the larger labor market to attract and retain employees. Here are three reasons your compensation plan is not competitive:
- Don’t know who are your talent competitors.
- Everyone gets the same merit raise without regard to value.
- Lack of proven upside compensation or advancement potential.