The Must-Read Articles for Talent Professionals This Week

If you’ve recently hired a new employee whose salary is higher than an existing employee in the same role, we’ve got news for you: You need to have a compensation conversation with that existing employee, ASAP.

“Employees whose pay increased soon after the addition of a higher-paid coworker tended to stay in their jobs a lot longer,” writes the Harvard Business Review in a recent article, “whereas those who had to wait for a raise were more likely to quit.”

To drive this point home, HBR highlights the following:

When an existing employee’s compensation was addressed within a month of the new hire, they stayed with that employer for an additional 2½ years.
If a raise wasn’t implemented until six months after the new hire, retention dropped to an average of 1½ years.
And if that existing employee didn’t get a pay bump until a year later, on average they quit just 13 months after the new worker was brought onboard.

To learn more about this compensation issue — and why it’s especially important for a company’s high performers — be sure to check out HBR’s article at the top of our list below of must-read articles for talent professionals.

And further down our list, you can also check out LinkedIn’s hot-off-the-presses 2024 thought leadership reports for L&D and talent professionals; learn a thing or two about creative personal branding; and find out why it may be time to give up on our old friend email.