A whirlwind couple of years — from steep COVID-19 layoffs to a hiring frenzy to a recession on the horizon — might have left each employers and staff dizzy in making an attempt to interpret compensation tendencies. However whereas hiring freezes and a rash of layoffs throughout tech and some different industries might have workers nervous, analysis by teams like WTW and Wage.com recommend pay will maintain going up — and at file ranges.
Why the counterintuitive findings? One Glassdoor economist lately informed HR Dive it was as a consequence of a number of components, together with an ageing inhabitants maintaining the labor market tight — even in a recession. And as firms transfer towards larger pay transparency and pay fairness, workers are demanding their wage aligns with that of their co-workers and are asking for the upper finish of pay ranges.
See beneath for extra tales on compensation tendencies because the yr involves a detailed.