The Silent Killer: A Warning from the 'Employee Whisperer'
Originally Published 2 years ago — by Fox Business
Wage compression, where new hires are paid significantly more than long-time employees, is silently destroying many companies and breeding resentment among workers. This issue arises when companies fail to keep up with market demands and refuse to give raises to their loyal employees. The resulting toxic workplace environment leads to frustration and mistrust, causing some employees to seek unionization. Additionally, wage compression contributes to high turnover rates and the loss of valuable institutional knowledge. Companies must address this issue to maintain employee morale and prevent financial losses.