Hireology Partner Update: PayScale Releases 2013 Compensation Report
Big news from the Hireology partner front: Our friends at PayScale announced the results of a new survey they conducted and it's making news all around the world. Want to know what over 4,000 executives said about their plans for 2013? Read the full report and don't forget to check out their awesome infographic!
The PayScale 2013 Compensation Best Practices Report is a result of an end of year survey on the compensation practices and trends by company size and industry. The full report will tell what's happening in your industry, company size and the market at large.
Here are some highlights from the report:
- A whopping 70% of small businesses—and 61% of large companies—expect their business performance to improve in 2013.
- Companies are planning to invest in new talent to help grow their business with 15% more companies planning to hire in 2013 than in 2012.
- The number of organizations hiring employees has consistently risen, with 2012 growth exceeding original expectations by 12%.
- In 2012, small business wage growth increased significantly, demonstrating the little guy is competing with large companies for skilled employees.
- As more companies look to hire in 2013, skilled labor is in demand. In the survey, 59% of respondents cited retention as a main concern, compared with 49% of respondents in 2012.
- Obamacare is mostly a non-issue for executives with 75% saying it will have little or no effect on hiring and staffing plans
Check out PayScale's full 2013 Compensation Best Practices Report. Download your complimentary copy to learn all about compensation trends. For now, if you would like some fun and entertainment, view the infographic below with key learnings from our survey.