Attention Hiring Managers: Too Little Pay Could Cost You Top Talent

The low unemployment rate, coupled with a looming labor shortage, has resulted in organizations having to work much harder to attract and retain top talent. In its annual 2017 Salary Guides, Randstad US, an HR service and staffing company, provides job seekers with insight into how their compensation stacks up with others and helps employers assess their pay rates against competitors in their markets. The new report reveals that workers can anticipate an average pay increase of 3% in 2017.

According to previous research conducted by Randstad, across generations, gender, and education levels, salary and benefits were cited as the most important factors when choosing an employer. The 2017 Salary Guides provide useful information for both job seekers and employers who are interested in data about current salary trends. The Salary Guides highlight compensation information for in-demand roles and skill sets, and take into consideration the impact geographic locations may have.

“Given the low unemployment rate and wage pressures employers are facing, it is becoming increasingly difficult for hiring managers to fill open positions,” said Jim Link—Chief Human Resources Officer, Randstad North America—in a press release. “It’s become a candidate-driven market again, and job seekers have more tools at their fingertips than ever to determine if they are getting paid what they’re worth. As a result, knowing the market average for specific positions, as well as nearby geographies, is critical information to help candidates and employers ensure they receive or make the most competitive offers.”

Randstad’s Salary Guides include salary ranges for the most popular positions within engineering, finance and accounting, Human Resources, information technology, life sciences, manufacturing and logistics and office and administration. Samples include:

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