Press "Enter" to skip to content

Pay up, but not benefits, as quitting jobs continues

Looks like Kentucky has the most quitters in the US – from jobs.   Big drops in warehousing and transportation are to blame.  Lowest quits rate – DC.   That said… everywhere has quitters.    I included a link if you want to dig in further.

Also from the world of work, some data around the pay for tech jobs via Hired.   There is regionalization to pay, with Philly and Chicago as lower tiers to tech hubs like Austin, San Diego, and DC.    52% of tech workers surveyed by Hired said they preferred a remote-first working model. And 74% of tech workers said they’d start looking for new jobs if their salaries didn’t increase or if they were denied raises in six months.

Broadly, pay is going up in the search for talent.   58% of US employers increased pay in the past three months, per the National Association for Business Economics.  And exactly 0% lowered wages.    That said, benefits have NOT increased a lot – less than a quarter of employers have increased benefits, despite 70% of workers would like to see that.  That from a survey by Joblist.

In the UK, TechUK relased data indicating tech jobs account for 10% of total jobs there, and could grow by another 678,000 by 2025.    Wages there are significantly higher than the UK average. 

Why do we care?

The jobs data points to regionalization.   That’s why we care, making sure not to ignore local conditions.  

Keeping employees should be a top priority right now.     Two main reasons employees stay – their boss.. and having a friend.    The number one reason employees quit… their boss.    

Is this shift temporary?  I’m not sure it is, and believe smart companies are going to be building towards a future where these conditions are the norm, not the aberration.    Even if I’m wrong, your business is at a competitive advantage over the long term on retention and hiring.    Seems like a smart play to me.