How many talents have left you because of better compensation & benefit packages? Has they left to your competitor or has they left for complete different career ? Are you unable to attract the first or second best candidate for a vacancy? Has budgeting for salaries become a major pain for your organization ?
If you perform in-depth analysis of the reasons why your talent leave the organization you may realize the co-relation between the resignations and compensation are closely related and it would be the one of the main contributor for the talent to leave your organization.
The total compensation package should be very well planned to be competitive in the market. The package should be reviewed by the organization on constant basis to ensure that the retention of the talent in long run. Benefit package not only include the salary but includes various other elements that helps the employee to maintain the quality of life.
HRSL Consultant Board