December 2017

Keep Your Best

Economic Research Institute's recent 2017 and 2018 budget and structure observations and projections underscore the importance of reviewing your Exempt and Non-Exempt Salary Administration Programs (SAP) and planning for program adjustments. For several years, both budgets and structures have been limping along at predictable and relatively flat rates. Based on the first three-quarters of 2017, projections for 2018 are trending upward and suggest paying close attention to employee turn-over as we enter the new year. In addition, general market movement does not necessarily reveal how specific jobs may be faring in the external labor market. As a result, it is important to keep a close eye on specific job vulnerabilities, usually apparent in emerging turn-over patterns. Unfortunately, early turn-over trends sometimes become evident only after competitors have picked off your top performers, a key reason to stay ahead of the curve.

While many organizations have evaluated annual changes in the labor market and made related adjustments, others have marked time in light of market lethargy in recent years on the premise that lack of dynamism provides employees few opportunities for career mobility in the general labor market.

As we are seeing clear signs of change and movement in the economy, it is time to take a hard look at existing positions and associated salary levels to be sure your salary administration programs are current and competitive and will remain so. This is especially true for career fields more susceptible to developing technologies as well as more traditional ones, like sales and customer service, where competitors are aggressively upgrading employees' knowledge and skills and integrating rapidly emerging technological support systems.

For more than three decades, HRA has assisted top-quality, employee-centered organizations in building and maintaining equitable, competitive Exempt and Non-exempt Salary Administration Programs. These are tailored to specific organizational needs and goals and provide policy and procedures managers and employees can understand in terms of fairness and consistency. Such programs and their day-to-day management and administration are among the most important keystones in the foundation of any organization's Human Resource Program.

If you are ready to review and assess your programs or want to initiate new programs, please give us a call so we can discuss ways to help you diagnose your specific organizational needs and refine objectives to ensure your business's health, productivity, and profitability.

Visit www.everythingdisc.com/hraservicesinc for more.