Career development opportunities, rather than salary, have the biggest impact on employees' perceptions of fairness, reveals a new research report released today by WorldatWork; Hay Group; and Loyola University Chicago professor of human resources, Dow Scott, Ph.D.
According to the report, the top five concerns in reward fairness are career development opportunities, merit increases, base pay amounts, non-financial recognition, and employee development and training.
"Reward professionals view career development opportunities as the top reward fairness concern because growth opportunities are in high demand by employees, while at the same time, career development processes are not particularly developed in many organizations," says Tom McMullen, Hay Group's North American reward practice leader. "Career development concerns are also the No. 1 retention issue for employees, according to our employee opinion database."
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