Effective and Personal Management Solutions
Managing Director Insights
What’s the Compensation?
9/10/2024
Compensation will always have huge influence on employment, and people changing jobs. People who change jobs typically get paid more money.
Sustainable employment though, is directly correlated to the level of compensation paid for the value of the work being performed.
We have seen countless people let go from their positions during the past year, and not surprisingly, in many instances the compensation was at a level well above market rate (and specifically, the compensation was given to them during the ‘Great Resignation’ a few years ago).
Companies who are hiring today, are not offering balloon increases in compensation, but they are offering compensation packages that are suitable for sustainable employment.
Conversely, during inflated hiring markets (like the Y2K hiring dash, post financial crisis, post covid ‘Great Resignation’), there are rampant increases in hiring which drives the compensation levels upward.
Just remember, most things that go up … also come down … and that does include hiring markets, and percentages of increase for new job offers.
If you are interested in long-term sustainable employment, then it’s largely a factor of a compensation offering that is in line with the market, and now is a good time to make a move because companies who are investing in hiring today, are doing so because the position is needed long-term, and the offering will be in line with long-term employment.
57-84, warming up a bit, but a dense fog also this am.
Make it a great day, everyone!
hashtag#SCNrecruiting hashtag#recruiting
SCN – Search Consulting Network
Author Info
Jim Guerrera
Jim Guerrera, Managing Director, founded SCN in 2000. Jim is primarily responsible for the development of the leaders at SCN, strategic planning, the hiring and development of company associates, culture leadership, core value leadership, sales le...
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