Category: Human Resources

What are recession chances in 2024?

This week, we are looking back at the labor market performance through the first quarter of 2024. We’ll dig into how actual labor market performance has compared to forecasts. U.S. employers added 303,000 jobs in March, capping off an impressive stretch where hiring has surpassed expectations. How has 2024 labor market performance held up to […]

Written by on April 24, 2024

Keys to a Winning Compensation Strategy

If you don’t have an established comp strategy, or are concerned yours has some room for improvement, don’t worry. This article, and our series on building a compensation strategy, offer insights for small- and medium-sized businesses and HR leaders. If you’re just getting started, or maybe you’re a small team with little bandwidth to implement, […]

Written by on March 28, 2024

What makes a good job description?✍️

This week, we are digging into what makes a good (and not so good) job description. Job descriptions are often the first impression potential new hire has of your company. A poorly written job description can be a turn off for candidates, something most businesses can’t afford in one of the most competitive hiring markets […]

Written by on February 19, 2024

Understanding pay for in-demand jobs

This week, we are digging into LinkedIn’s Jobs on the Rise list. The list includes the 25 fastest-growing jobs in the U.S. over the past five years. This shouldn’t come as a surprise, but many of the jobs on LinkedIn’s list – like Nurse Practitioner, Recruiter and Revenue Operations Director – are among the most […]

Written by on January 26, 2024

2023 Year in Review

This week, in our last newsletter of the year, we are recapping 2023. From an economic perspective, we’ll explore how the labor market turned out to be much stronger than many expected. We dodged a recession, and the economy is on track for a soft landing. Then, we’ll look at how thousands of LaborIQ users […]

Written by on December 22, 2023

Pay Bumps for New Hires

Irrational pay may be gone, but wage growth is here to stay  Pay bumps for new hires have come down. But wage growth is likely to remain elevated, continuing to impact pay equity and turnover. Big picture: Great Resignation to the present To set the stage for what to expect in 2024, let’s go back […]

Written by on November 17, 2023

Setting Salary Ranges in a Changing Labor Market

Are current market-competitive salaries not aligned with your expectations of what you should pay employees?   Or does one of the below situations sound familiar to you ❔  Wild swings in the job market made it impossible to keep pay competitive against competitors.   You interviewed many candidates who were a great fit, but you were not […]

Written by on November 1, 2023

Know Your Company’s Compensation Health Score?

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Written by on August 11, 2023

How Does The Unemployment Rate Affect Hiring?

The unemployment rate is a widely-used indicator of the labor market’s health, and as such, it can significantly impact an employer’s hiring process.  For example, low unemployment rates usually make it more difficult for employers to find qualified candidates to fill their open positions. On the other hand, when unemployment rates are high, employers may […]

Written by on March 20, 2023