Compensating Top Talent: Expense or Investment? New HCI Research Explores

A company’s two greatest expenses are its investment in their technology and people. In today’s business landscape, companies are looking to operate in a more cost-efficient manner. Have companies started to look at their greatest investment as their greatest expense? 

At the same time, there is much debate over a lack of skilled talent. Under these circumstances, experts argue that wages should increase for these in-demand positions. However, wages have not seen notable increases in any sector of the economy.  Are companies paying for the level of talent they are seeking or are they cutting employee compensation as a short-term fix?  What are the consequences of not paying for talent?  Are companies spending more by trying to spend less and do higher wages really means higher costs? 

HCI is launching a research initiative exploring the compensation of top talent to determine which practices are most effective at attracting and retaining the best talent. We seek to understand the current climate of attracting and retaining top talent and the repercussions of paying below industry standards. HCI members are invited to participate in our latest survey that will close on April 21, 2014 at 9am EST.