What are alternatives to salary increases?

What are some alternatives to salary increases that companies can offer?

Companies can consider options like bonuses, stock options, additional vacation days, or flexible work arrangements.

How effective are bonuses compared to salary increases?

Bonuses can be very effective as they provide immediate rewards, but they may not have the same long-term retention impact as salary increases.

What about non-monetary benefits?

Non-monetary benefits like professional development opportunities, wellness programs, and recognition can significantly boost employee satisfaction.

Can you give examples of flexible work arrangements?

Sure! Examples include remote work options, flexible hours, compressed workweeks, and job sharing.