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At first glance, the headlines appear to be bleak. In May alone, more than 15,000 tech workers lost their jobs, and Fortune magazine reported that amid a decrease in demand and rising inflation, the tech industry wasn’t looking good. Let’s take a look behind the headlines.. Interestingly, the data appears to contradict this doom and gloom. So, we’re spotlighting how we […]
Written by Rosie Greaves, LaborIQ Staff Writer on June 27, 2022
Amidst quickly rising inflation and spikes in the cost of living, this May, the central bank of the United States announced its biggest interest rate increase in more than two decades. According to the Federal Reserve, the benchmark interest rate will increase from 0.75% to 1%. Still, with inflation at a 40-year high, interest rates are […]
Written by Rosie Greaves, LaborIQ Staff Writer on June 27, 2022
Workplaces can be challenging for many reasons, whether it’s company politics, worker salary expectations versus what they actually receive, or plain old-fashioned communication difficulties. At a time when HR professionals are grappling with an ever-increasing labor market, it’s worth exploring the different ways future and existing hires communicate – depending on their generation. Currently, as […]
Written by Rosie Greaves, LaborIQ Staff Writer on June 22, 2022
For any company, compensation is a delicate but paramount topic that takes great care and expertise to manage. It determines the satisfaction of current and future employees and, as such, dictates how competitively businesses can position themselves in the labor market. HR leaders face the challenge of determining the right compensation for each employee, how […]
Written by Rosie Greaves, LaborIQ Staff Writer on June 16, 2022
Careful compensation planning is crucial. Since 2019, the national unemployment rate has fallen below 4%. As a result, job roles are outpacing job seekers, so competition for top talent is fierce. At the same time, retaining staff when so many opportunities are available is more complicated than ever. Needless to say, offering fair compensation is crucial […]
Written by Rosie Greaves, LaborIQ Staff Writer on June 13, 2022
Compensation benchmarking, also known as salary benchmarking, compares a company’s internal salaries to external market averages. This involves evaluating job roles, more specifically, the responsibilities and skills involved, the employee’s experience, the cost of their replacement, and comparing them to similar positions in other companies. There are many salary benchmarking best practices and different ways […]
Written by Rosie Greaves, LaborIQ Staff Writer on June 10, 2022
Many blog posts are devoted to the aptly named ‘Great Resignation’- both in the U.S. and other parts of the world. So, we won’t dig into this phenomenon here. But what we will say is that employers wanting to stay ahead in such a tight labor market need to get creative to successfully attract and […]
Written by Rosie Greaves, LaborIQ Staff Writer on June 8, 2022
Although essential, job satisfaction isn’t just about salary. In fact, studies show that 80% of workers would opt to keep a job with benefits rather than take a higher-paying job with no benefits. Put simply, employee benefits have a significant bearing on staff retention. These stats speak for themselves: 72% of companies increase benefits for retention reasons. […]
Written by Rosie Greaves, LaborIQ Staff Writer on June 7, 2022
Since the Great Resignation at the end of 2021, many industries have continued to lose employees in large numbers. As a result, job openings are soaring ahead of the number of job seekers applying for work. Unfortunately, this has created a labor market where businesses compete fiercely for talent within very small candidate pools. It’s […]
Written by Rosie Greaves, LaborIQ Staff Writer on June 6, 2022
In today’s hiring climate, timing is everything. Recruitment is a candidate’s game, with a record five million more job openings than job seekers. The result? Competition is fierce. Candidates are no longer willing to sit through several interviews when your competitors might make a quicker offer. So, to fill your positions with top talent, it’s vital […]
Written by Rosie Greaves, LaborIQ Staff Writer on June 3, 2022
