How are you coping with rising salaries?
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As bad as it sounds, we would try not to apply the exact same rule to everybody, but at least for an interim period of time only apply a higher salary to those who are at an imminent risk of e.g. leaving, or not being hired. It is of course our intention to fix this for all and get everybody playing by the exact same rules, but we find ourselves sometimes in a more reactive mode. My opinion, not reflecting on the values of the company I work for!!
It is a big problem as roles relate to salary "bands" which HR is not rising sufficiently to retain employees. Most leaves are employees indicating they like the work they are doing, but are able to do the same "likeable" work for more pay elsewhere.
Benefits are an important part of the package. But I would be more comfortable if we could find a way to meet in the middle way about the rise salary. There is a way to find flexibility in that number, given my experience level and strong accreditations!
We have tried to adjust based on market demand but it’s difficult as many others have noted. We have tried pay adjustments where possible however in many cases you have to accept you will lose staff if you can’t find other ways to compensate such as a flexible work model, ancillary benefits, etc.
I am leveraging AI to perform tasks that are usually performed by humans.
This is a clear example: A few months ago I would have hired someone to produce videos for my organization but we recently created a promotional video that is 99% AI generated and it cost me 98 cents USD to generate it in computational power spent on the Cloud.
I cannot control inflation but I can automate human work to be made by machines.