The Fallacy of the Merit Increase: A Chat with Korn Ferry Hay Group’s Tom McMullen

We sat down with Tom McMullen, senior client partner and North America rewards expertise leader at Korn Ferry Hay Group.

When was the last time you looked at a breakdown of your total rewards spend? Are you getting the return—in engagement, motivation, retention—that you’re striving for?

Many HR professionals are asking themselves the same questions, wondering whether traditional reward strategies like the annual 3% pay bump really makes any difference.

To get some answers, we sat down with T...