How Can Employers Boost Retention Without a Money Tree?

Companies without the extra cash on hand for pay raises can still increase worker retention with better opportunities for career advancement and a high-quality workplace culture.

Not all employers can just raise salaries, but they can think strategically about the whole career path employees will follow from their first day to their last day, Andrew Chamberlain, chief economist of jobs website Glassdoor, told Bloomberg BNA Feb. 14. The problem for many employers is that they don’t have a clear plan for elevating employees to roles of increasing responsibility, he said.

Many ways of improving an organization’s culture and values won’t ...