Retaining talent and keeping employees loyal to one organizations is a major challenge that HR professionals across the world faces but at the same time HR should not indulge into much of rewards and incentives schemes to retain the talent.
"rewarding employees with pay-for-performance is a tried and tested practice but even then the challenge before HR managers is to clearly identify that who are the real performers and then aptly rewarding them. Also, they have to strike a balance between rewards and incentives both in financial as non-financial aspects," says John Mike of Fred Loya Insurance.
while Vineet John, a Texas based Chief People Officer, Fred Loya insurance, feels that a good framework for salary is a must to keep the talent engaged but at the same time you should not pamper your top performers too much as it may back fire in long term. We at Fred Loya Insurance believe in aptly awarding employees each year but at the same keep it in sync with prevailing market salaries.
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