Inflation Is Making Your Employees Question Their Paycheck. Here’s How to Respond
By | LinkedIn Talent Solutions
Welcome to the first edition of our newsletter that will dive into the most pressing issues for talent acquisition, L&D, and employee engagement. In short, we’ll be talking about . . . All Things Talent.
The Scoop
Inflation is the big issue that just keeps getting bigger.
You’ve probably noticed it when you go to buy milk, gas, or diapers or when you decide not to go on vacation (“They’re asking how much for a single night?”).
Inflation is not only making your life harder at home, it’s throwing some wrinkles into your job as a talent leader. You’ve heard that employees in 2022 expect work-life balance and flexibility. Well, they definitely want more money — because they need it to keep up with inflation.
So, restless employees everywhere are wondering if they can afford to stay with their current company or if they need to become the newest player in the Great Reshuffle. Employers, on the other hand, are eager to attract and retain talent without breaking the bank as they wrestle with how to make salaries both attractive and sustainable.
- For leaders recruiting talent, consider adding salary ranges to your job posts. A few weeks ago, a recruiter set the internet ablaze after sharing that she lowballed a candidate, giving them what they asked for but not what they really merited. Including ranges on your job postings can help you streamline the hiring process, filtering out candidates for whom you wouldn’t be a fit and simplifying negotiations by taking comp out of the conversation.
