From More Flexibility to Bonuses, Employers Using Several Strategies to Retain and Keep Workers

Aug 23, 2022

From increasing flexibility to sign-on bonuses, employers are using several strategies to attract and retain employees, according to the “WTW 2022 Mid-year Compensation Survey.”

To help attract and retain workers, WTW found that employers are:

  • Hiring employees at the higher end of salary ranges - 86%
  • Increasing flexibility in where employees work and how they work - 84%
  • Offering sign-on bonuses to attract talent - 81%
  • Using retention bonuses to keep employees - 65%
  • Increasing training opportunities - 55%

The WTW survey also found employers are revising their salary budgets in order to hire and keep workers. Respondents said they are planning or considering:

  • Boosting their current salary budgets - 44%; 23% already have done so
  • Adjusting salary budgets throughout the year on an as-needed basis - 46%; 22% already have
  • Making more frequent salary adjustments throughout the year; 7% already have
  • Adjusting salary ranges more aggressively - 46%; 18% already have

Source: Staffing Industry Analysts

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