Posted By: Debbie Milks on December 16, 2020
Brookwoods Group VP of Operations Debbie Milks contributed to a special article in the Houston Business Journal, "Houston Workforce 2020 Salaries & Money." The article by John Egan appeared in the print edition November 27, 2020 (Click on the HBJ image to read the article as published.)
In the Houston Business Journal article, Brookwoods Group's Debbie Milks made the case for maintaining attractive compensation packages, even in a downturn where talent is available:
- Attractive compensation can enhance company reputation and mitigate the negative perceptions of unavoidable layoffs.
- Attractive compensation can reduce employee turnover, which is itself very expensive in terms of productivity and ramp up. (See our article on the true cost of a bad hire: https://brookwoods.com/hiring-a-recruiting-firm-can-save-money/)
- Attractive compensation can help cement a positive attitude for new employees, who may otherwise come on board and immediately be looking for a better salary in a new company.
- Attractive compensation can help lure great talent from more expensive parts of the country, making a lateral move attractive with the promise of a better standard of living.