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Total compensation as a talent retention strategy

On a daily basis, companies face different challenges that are possible to solve thanks to their workforce. This is why we have decided to prioritize and share one of the most important strategies to attract, retain and retain the talent of your company; total compensation, with an adequate salary policy.

We define total compensation as the set of compensation and benefits that an employee receives for their service and talent, from an organization or employer. That is to say, that each company, in accordance with its salary policy, rewards its employees in a monetary and non-monetary way, for the fulfillment of requirements, functions performed, performance and objectives achieved.

During the pandemic in 2020, the vast majority of countries faced great difficulties in the face of unemployment. A year later, in countries like Colombia, the United States, Germany and Mexico, among many others, there has been evidence of a recovery in employment; One of the factors to which this improvement could be attributed is the adaptation of the business sector to the virtual and remote work modality. Turning this modality into a job opportunity without borders for employees, but it can also become a threat for companies that still do not use compensation, as a decisive factor of great importance in the retention and attraction of personnel.

Hand in hand with compensation experts, we will share the necessary knowledge to design a salary policy that adapts to the needs of your company and that is consistent with the functions and development of your collaborators. From an overview of the total compensation and the evaluation, definition and valuation of the position. Likewise, the different types of salary will be presented, with their corresponding structure and design; and finally, the design of a benefits model based on organizational needs.

To obtain more information, and learn how to design an adequate and successful salary policy, in just 5 steps, sign up now for our FREE MASTERCLASS, on August 10, 2021 at 5pm Colombia time.

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