North American employers are reevaluating their employee compensation strategies as they struggle to find and keep employees in several key areas.
Two-thirds of employers have increased hiring activity in 2022, according to the WTW 2022 Mid-year Compensation Survey. However, about the same percentage of respondents are having difficulty attracting and retaining employees with digital skills and professional employees, and more than 60% are having problems hiring and keeping hourly employees.
"Employers are leaving no stones unturned in their battle to find and keep talent," says Lesli Jennings, North America leader, Work, Rewards and Careers, for WTW. "While making enhancements to compensation programs can support employers' immediate recruitment and retention efforts, employers recognize they will need to pull levers in addition to compensation and reinforce a connection to the overall employee experience."
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