Commentary: Offering pay raises to those wanting to resign may backfire

LONDON: The other day I bumped into a friend I had barely seen since he started doing quite an important job at a big bank. “Hello!” I gushed, eager to hear about life inside a business that, even by investment banking standards, had a knack for making news.Great ResignationFigures this month show 4.4 million US workers, or 2.9 per cent of the workforce, quit in April — up from a record-setting 4 million, or 2.8 per cent, in the same month in 2021.

A counter-offer seems obvious for a measurably proven star, especially if they are also stable, gracious and leaderly, which a lot of stars are not. If the newcomer is joining from a company in the same sector, reaching optimal productivity might take less than four months, this Oxford Economics research found. But that could rise to eight months for someone from a different industry; 10 months for a new graduate and a year for someone re-entering the workforce.Saying that, counter-offers can also backfire if not handled with care.

If the latter is the case, beware. A pay-based counteroffer that seems to have worked in January might have failed by April if the recipient gets another proposal from a more adroitly managed organisation. The offerer will have merely shelled out money to defer a problem rather than fix it.It is obviously smarter to find out what is driving departures and, if possible, pre-empt them by, say, setting up a system to alert flight risks about internal job opportunities.

Ftf

Surprisingly it's not what the healthcare suffering from. Surprisingly despite the lack of staff. Management is threatening to fire them.

But by not offering the pay rises doesn’t this signify a greater wrong? If the person has really lost out previously on pay rises, shouldn’t he get some part of it in back pay?

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Commentary: Why do we still expect men to make the first move when dating?Even though we’re increasingly aware of and pushing back against gender roles today, men are still expected to take the lead in romancing, which can hurt women and men alike, says writer Natalie Tan. Cos gender can never be equal
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Khloe Kardashian asked why Tristan Thompson didn’t ‘wear a condom’ after learning of his paternity scandal‘I wanted to believe that Tristan could change,’ Kardashian said during the finale episode
Source: YahooSG - 🏆 3. / 71 Read more »

Rising costs of living ahead of GST increase among issues raised at Sengkang town hall session
Source: straits_times - 🏆 5. / 69 Read more »

With no rankings points on offer, Bouchard pulls out of WimbledonFormer Wimbledon finalist Eugenie Bouchard has withdrawn from the 2022 Championships with no ranking points on offer as the Canadian former world number five plots her return to the tennis circuit following surgery last year.The men's ATP and women's WTA stripped the grasscourt Grand Slam of ranking point
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Christina Ricci says she once ‘stayed naked’ while ‘talking to crew members’ between takes on film set‘You probably wouldn’t be allowed to do this now,’ actor said
Source: YahooSG - 🏆 3. / 71 Read more »

Uncle Raymond, the TikTok sensation dancing his way through Singapore, just wants to make people happyHe usually reveals his next location in the comments section of his TikTok videos. Then fans, both young and old, show up to dance. CNA caught up with him after one such session.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »