Workforce challenges and compensation: your managers are valuable allies

With a healthy economy and an aging population, the challenges of attracting and retaining workers will increase in the coming years. These factors will put considerable pressure on your total compensation package and you may consider to revise some of your programs. That said, don't overlook your managers' contribution optimizing the value of your total compensation package. After all, they could be a key asset of your attractivity.

As many studies have shown, the manager plays a key role in employee engagement and retention.

What role should managers play in compensation communication? How much negotiating flexibility should they be given? Beyond how much, how can we get them to be engaging and convincing about compensation? Are they sufficiently informed? Your managers will have to answer a number of questions and concerns arising from the competitiveness and scarcity of talent. In addition to the evolving role of the manager-coach, the right total rewards narrative in the manager's approach will help ensure that your organization stands out and remains attractive to your employees and candidates.