Even in this challenging economy, the unemployment rate for professional positions like accounting and finance remains below 4 percent — less than half the national average. In addition, the accounting and finance sector is one of the fastest growing and most successful segments of the economy.
Add it all up and it’s clear that the competition for top talent remains intense and the talent pool is growing shallower by the day. So if you’re looking to fill a position, or you’d like to keep your employees within your walls, consider whether or not the salaries you offer are sufficient. How do they stack up against the competition?
Striking the right balance in benefits and pay can be a very difficult task – the pastry giant Hostess met their demise based on a major error: they were overpaying their people. Overpayment can be an issue at even the highest levels but recognizing the importance of a competitive salary is key in avoiding excessive turnover. Google can vouch for that – they recently awarded their employees admirable bonuses and pay raises stating that their actions were “important to the future of the company.”
Making sure you’re not over- or under-paying your employees is a tricky business but we’re here to help. With our 2013 Salary Guide you’ll have all the answers you need to make important hiring and payroll decisions.