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How to Handle Compensation During a Recession, from New Hires to Pay Raises

SHRM Organizational Development

It’s imperative for HR leaders to keep abreast of labor market changes and appease those concerns by clearly communicating about salaries, raises and job stability. Fears of a looming recession could have a positive or negative impact on compensation, so.

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Fluid Organization Design: Putting the “Fun in Fungible”

AlignOrg

Let’s discuss this flexible concept of hiring and staffing, often referred to as fungible talent. And that’s the beauty of fungible talent – when it’s done right, it creates an environment where employees can thrive while organizations increase creativity, improve retention rates and become more responsive to market changes.

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Overstaffing: Why It Happens and How To Avoid It in 5 Steps

AIHR

Unpredictable economic conditions : In times of economic uncertainty, such as market downturns, companies often face the challenge of balancing their workforce to align with business needs. Workforce constitutes a significant chunk of organizational expenditures, encompassing salaries, benefits, and other compensation-related expenses.

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Talent Acquisition vs. Recruitment: The Differences and HR’s Key Role

AIHR

Creating brand awareness for the company as an ideal workplace to attract high-quality candidates that match the company’s vision and values Recruitment marketing. It may involve rewriting job descriptions, performing recruitment marketing, creating employer brand campaigns, or launching an employee referral program.

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Employee Retention: The Key To Driving Cost Savings And Fighting Inflation

Chief Executive

In today’s highly competitive labor market, proactively tapping known internal talent from both full-time and contingent pools can help organizations avoid the rising costs associated with new hires. Increasing Your Odds Keeping top talent around is a good strategy, but it may feel impossible to achieve in today’s market.

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Want a Career in Human Resources? Your In-Depth (2023) Guide

AIHR

By 2030, the market will grow at an impressive rate of 12.7% Compensation and benefits : HR ensures that employees are well cared for by giving them competitive salaries and benefits. Workforce planning: Optimizing a company’s staffing levels to prevent shortages and surpluses in the workforce. And not only that.

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Key Human Resources (HR) Pillars: Your 101 Guide

AIHR

A department : The HR department manages all HR activities, including recruitment, onboarding, compensation, development, performance management, and employee relations. The overarching ‘roof’ of HR While HR strategies define the various logistics of HR-related functions (recruitment, compensation and benefits, training and development, etc.),