Recently there’s been a lot of hype from the media about executives who are willing to forgo their compensation for better work life balance. This could include flexible work arrangements, working remotely, or even re-engineering roles to focus on career development. These are some of the reasons being suggested as to why executives are choosing to stay or leave.
However, we at CSP are seeing a very different story unfold. Our data firmly suggests that remuneration remains a top priority as the pressures of inflation and cost of living continue to create social and economic challenges across the globe — in the past 8 weeks alone, we have seen a 200% increase in executive CV’s with remuneration being a key driver for this influx.
And while this indicates remuneration must remain a core component of the talent attraction strategy – many continue to be motivated by individual ambition, progression, and the altruistic desire to be an executive in healthcare. With all of this in mind, we are advising our clients to be prepared and stay engaged with their top performers, in order to retain their best talent.