Below is the information we are basing our project on: Fictional Company: Ice cream shop Strategic Goal: Improve Employee Retention HR Function: Compensation and Benefits HR in Practice ( I only need you to focus on this part of the project)Project

The following information is used for our project. Fictional Company: A ice cream shop. Our Strategic Goal: To Improve Employee Retention. HR Function. Compensation and Benefits. In Practice. I will only require you to concentrate on that part. You will need to find an external article that is credible and describes an actual company that uses an HR function in order to achieve a strategic goal. You don’t need to use the exact same example as the proposed activity.
Project
CONTENT
Many HR managers have made employee retention a top priority due to an abnormally high level of voluntary turnover. According to the September 2021 report, there was an unprecedented rise in resignations among U.S. workers. (Dewar, 2021). There is no one solution to this problem, but remuneration must be taken into consideration. An ice cream shop’s HR professionals may use clever compensation changes to increase employee loyalty. According to Dewar (2021), 36% of employees say they are willing to quit their job in order for better benefits and income. There are many options for those looking to earn more. In response to skills shortages and inflation (Dewar, 2021), compensation is increasing quickly in many sectors and activities. (Dewar, 2021). It is necessary to revise the salary scales in order for them to reflect the company’s overall compensation philosophy. To maintain equality, the salaries of all team members should be adjusted. Although strategic pay adjustments can be costly, they are more affordable than the cost of dismissing employees, which could run up to 33 percent of their base salary.
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