Closing salary gap between external hires and existing employees. Adam Grant pointed out that new hires are making 7 per cent more than people currently working in the same job. “Commitment should be rewarded, not punished,” he believes.While hiring new employees, experts say the organisation considers aspects like pedigree, futuristic ideas, fitment of the candidate, experience based on the criticality of the role, culture and values of the candidate, etc.Why can’t we offer appraisal to our internal candidates while we are giving the the same to the external ones?
Industry leaders point out that rewarding long-term employment also helps show the new employees that an organization cognizes their hard work and helps reduce the exit rate of these new hires.
