July 15, 2024

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56% Of U.S. Companies Have Experienced Pay Compression In The Last 12 Months, Robert Half Research Finds

  • Of all those, 62% are escalating salaries for present-day staff members to assist close wage gaps
  • Robert Half Wage Manual functions information to benchmark compensation for 500-moreover positions

MENLO PARK, Calif., April 8, 2022 /PRNewswire/ — Quite a few organizations are taking actions to raise pay back equity among employees, investigation from expertise methods and business enterprise consulting business Robert 50 % shows. Far more than half of C-suite executives surveyed (56%) said they have noticed wage discrepancies involving new hires and extra tenured employees in the past year. Of all those, 62% are on a regular basis reviewing payment plans and raising salaries for present personnel, when appropriate, to align with recent sector premiums.

“Marketplace conditions have shifted dramatically, and savvy companies are stepping up to deal with wage gaps and assure all staff are currently being paid rather,” stated Robert 50 percent senior government director Paul McDonald. “They know that getting a careful ‘wait-and-see’ solution on payment is dangerous and can guide to the loss of wonderful expertise.”

Employees Anticipate a Increase
There are quite a few things at enjoy when it arrives to wage expansion, and employees’ expectations are between them. In a independent study of extra than 1,000 U.S. employees, one-third of respondents (34%) said they have not experienced a increase in 12 months and another 16% gained a person but were being disappointed with the amount. In addition, almost two-thirds (62%) plan to inquire for a increase this year, with the leading factors staying:

  1. To adjust for the better price tag of dwelling (30%)
  2. To replicate current sector prices (23%)
  3. To account for supplemental position responsibilities (22%)

If employees really don’t get a raise:

  • 31% will inquire to revisit the income conversation in a couple of months
  • 27% will search for a new career with bigger pay back
  • 23% will request for additional benefits

Watch infographics of the investigate highlights.

McDonald famous, “In addition to location competitive salaries, businesses have to take into account the full personnel practical experience and produce plans that fulfill their specialist and private requirements. Profession advancement and distant possibilities are two large priorities for staff right now.”

Take a look at roberthalf.com/income-guide for the newest facts on income and employment trends for much more than 500 positions throughout the finance and accounting, technologies, administrative and shopper assist, marketing and artistic, legal, healthcare, and human assets professions in the U.S.

About the Exploration
The on the internet surveys had been created by Robert 50 % and executed by impartial investigation firms. They consist of responses from 376 C-suite executives across a assorted vary of industries (gathered February 25 to March 8, 2022) and more than 1,000 employees 18 several years of age or more mature (collected March 3-11, 2022) in the U.S.

About Robert Half
Robert Half (NYSE: RHI) is the world’s 1st and biggest specialised talent options and business enterprise consulting agency that connects options at excellent businesses with very expert occupation seekers. Robert Fifty percent features contract, temporary and long term placement solutions and is the father or mother enterprise of Protiviti®, a world-wide consulting company. Visit roberthalf.com and download our award-successful mobile application.

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