There’s no doubt the job market is tough out there right now, but even those with jobs aren’t necessarily happy. With the pandemic responsible for a lot of changes in the office, especially when it comes to salary, many executives are worried about losing their best people.
A new Robert Half survey finds:
- 88% of senior managers are concerned about their company’s ability to retain valued staff members.
- 47% of those folks are very worried.
- The biggest reasons for those worries can be attributed to possible bad news ahead, including salary reductions or planned salary freezes.
- Of the 28 cities polled, managers in Minneapolis are most concerned about retaining employees (52%), followed by Tampa (50%) and Portland (49%)
And it seems these managers have reason to worry because it sounds like employees will be able to make more money elsewhere.
- Even with unemployment high, 44% of managers say starting salaries for new hires are the same as they were pre-COVID.
- 28% actually say there’s been an increase in base compensation.
- Plus, 86% of mangers are more likely to negotiate salary now than they were a year ago.
- 36% are also more willing to discuss starting pay with candidates now than they were last year.
Source: Robert Half