How Do Your Salaries Compare to Your Competitors?

How Do Your Salaries Compare to Your Competitors?

It seems like everyone is hiring, and they are! Everywhere you look you will see “Now Hiring” signs or “Open Interviews” posted. This is not simply holiday hiring; many companies have had signs up and ads posted for several months. As we dive into the holiday season, the challenge of attracting employees will become even greater. Omaha’s unemployment remains low while companies continue to grow. Our Celebrity Staff client needs continue to increase. The highest employees in demand in Omaha right now are in the $10-$15/hr. range, but that range continues to expand. You have likely had no shows to interviews, employees hired who accepted another offer before starting, and applicants negotiating higher pay. As you head into the fourth quarter, now is the time to ask yourself, “When was the last time we did a market analysis of our compensation package?” My guess would be that many of you can’t recall the last time you did a market analysis of your salaries. The good news is that I can help you!

I will be the first one to tell you that attracting employees and retaining them is not all about the pay. However, it is a big part of what draws applicant interest and making a decision to accept the offer. Many of my clients have had the same pay rate for the last four years (as long as I have been with Celebrity Staff), if not longer. I would estimate since January that a quarter of my clients have raised their pay in order to hire the talent they are seeking. These clients have raised their hourly pay anywhere from $1-$3 per hour. For salaried positions, I have experienced clients raise salary from$1K-$10K per year to attract the right talent. Investing on the front end may mean more money for your company in the long run. Don’t let these dollars scare you. An extra $6,200 a year per employee may seem like a scary number, but scarier yet is that the average cost of turnover per employee is $9,444.47 per year. It costs less money to raise your pay rates and invest in someone (on the front end) who can be an asset for the company than it does to have employee turnover. Doesn’t it make sense to at least assess your current hourly rates and salary?

Not sure where to start? I can help you with that, too! We have a handy Salary Tool on our website that allows you to compare rate of pay in the metro along with all 50 states. The salary tool provides a job description and salary information. For example, when I type in receptionist in Omaha, NE it shows me that the average pay for a receptionist is $15 per hour. The job duties associated with it are greeting vendors and clients and operating a phone system. If you are still unsure if your pay is competitive, I encourage you to reach out to your account manager at Celebrity Staff. We know firsthand the pay trends in our city.

salary, How Do Your Salaries Compare to Your Competitors?Sarah Kaczmarek

Sarah joined Celebrity Staff in January 2013 as an Account Manager and currently is a Sales Manager. Prior to joining Celebrity Staff, Sarah had a successful 17 year banking career, working her way up from teller to branch manager. Sarah discovered right away she enjoyed the recruiting and staffing industry and has the natural ability to match clients with employees. Sarah’s enjoyment in the industry comes from knowing that she is making a difference every day in people’s lives. In her spare time, Sarah enjoys spending time with family, running, and camping.

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