In the age of the Great Resignation, the hunt for good talent is a tall order. With many competitive and even outrageous offers, it is a challenge not only to grab NEW talent successfully but also manage to keep your current talent happy and navigate the dire inequity you are surely creating internally.
When you are nearly to the offer stage, how are you able to justify for this awesome and hard to find talent? Are they coming on board as a remote worker or within a defined compensation zone that is aligned to a broader region?
HR is standing at a major crossroads as the workforce talent is becoming increasingly remote to remain competitive both locally and nationally. How to handle this in the HR world?
Oracle has a great tool for Compensation in the Cloud HCM world. Newer functionality has been created under the guise of Compensation Zones which offers Human Resources options related to salary differentials. Do you want to account for salary with a broad brush such as a geographic zone? Or even get more granular to the worker’s personal location? This may seem challenging in an employee’s market when you want to keep talent. And it is important to address market conditions while at the same time keeping internal equity intact too. Flexibility is the key.
For more details on this topic, read here.
Contact us to modernize your Compensation tools with Oracle Cloud HCM. Or even tweak your existing Oracle Cloud HCM configuration for compensation.