Compensation Issues

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More employees expected to quit in upcoming year, cite salary as top reason: 5 findings

Thirty-five percent of hiring decision-makers expect more employees to quit over the next 12 months, according to a recent Glassdoor survey.

The survey gathered data from 750 recruiters, HR employees and other employees responsible for hiring in the U.S. and U.K.

Here are five findings from the survey.

1. Sixty-four percent of survey respondents said they think their organization is satisfactory or very satisfactory at clearly setting pay and benefit expectations within job postings. However, Glassdoor data indicates fewer than one in 10 online job postings list pay data in the job description.

2. Thirty-seven percent of respondents said employee retention rates would increase if new hires were better informed about pay and benefits during the hiring process. A separate 2017 Glassdoor survey found 98 percent of job seekers and employees believe it would be helpful for job postings to list pay ranges.

3. Forty-five percent of respondents said the top reason for employees changing jobs is salary, followed by career advancement opportunities, benefits and location.

4. The survey found nearly half — 48 percent — of hiring decision makers note salary and compensation influence candidates most when considering where to work.

5. Sixty-six percent of respondents said competing offers from rival companies were a significant challenge in attracting and hiring informed candidates.

More articles on compensation:
18 healthcare jobs with highest median pay, job growth in 2017
Survey: Compensation increases for physicians across 5 specialties
13 cities with highest monthly average starting salaries in 2018

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