We are seeing more questions about compensation as the local and regional economy recovers. I guess it is no surprise. I believe at least a couple of things are happening here. First, as the economy recovers, companies want to retain good employees/management and executives who have helped them navigate through the last two or more uncertain economic times. Secondly, companies who haven’t hired in a while want to see what salaries are out there in an attempt to pay equitably, but certainly not over pay for their open roles.
Our compensation experts have been working with companies on such questions as:
- “I have an employee and they do “everything for me” administrative work, calendar management, keeping my books and more..they are very valuable, but just came to me and pleaded a good case, including a salary survey justification for a 45 percent increase…what do I do now??” – Partner in a law firm
- “We are looking at executive CEO compensation in our nonprofit organization. Can you guide us with what other comparable organizations are paying at this level?” – President of nonprofit organization
- “We are hiring again and are looking for a training manager or director we aren’t sure about the level yet…can you help us with that and the appropriate salary level?” – VP HR of service organization.