Protis Global President Bert Miller is starting to see the early signs of wage pressure in industries he works with. His firm specializes in worker recruitment for the food and beverage, hospitality, consumer packaged goods, and banking industries.
“We’re starting to see signing bonuses come back into play,” Miller said. “You’re seeing signing bonuses, starting to see higher base salaries. You definitely see them in long term incentive plans.”
Miller adds that the incredibly low unemployment rate in some sectors is helping to put upward pressure on wages. Employers can use bonuses, benefits, or increased pay to incentivize potential employees when there is a high demand for labor. Miller has seen employers starting to act on that pressure to recruit talent.
“You’re seeing professional employment run about two percent or less which really means everyone who can work is working,” Miller said. “So the competitiveness in the marketplace for talent continues to get steeper and steeper.”
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