Tying employee rewards closely to performance benchmarks sounds simple enough, but the practice becomes even more critical when times get tough, a new report suggests. Companies that take an integrated approach are 20 percent less likely than competitors to face difficulties in attracting people with critical job skills. That’s according to consulting firm Watson Wyatt Worldwide, which notes those same companies are 25 percent less likely to struggle when pursuing high performers.
It logically follows that integrated reward-talent management techniques also bolster retention. Companies following the practice are 33 percent less likely to have trouble retaining critical skills and 18 percent less likely to hang on to top performers, according to Watson Wyatt’s survey of 1,389 organizations in 24 countries.