Compensation Becomes a Trickier Question in the Age of Remote Work

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One year ago, many organizations were desperately searching for skilled talent to help scale their companies. At the time, the US was facing one of its tightest labor markets in history. Unemployment rates were so low that it was challenging to find top talent. Recruiters had to race to win a “yes” from the right candidates, and quick reactions were key to securing placements.

What a Difference a Year Makes!

Today, things are very different, and we’re all glued to the news headlines and reports from the Bureau of Labor Statistics regarding massive unemployment throughout the country.

So, it should be easy for employers to find skilled labor today, right? Not exactly.

Changes to working norms that would have taken a generation or longer to come to fruition on their own were forced into place in a matter of months, thanks to the COVID-19 pandemic. Employers and talent acquisition professionals have had to adapt to a changing environment seemingly overnight. COVID-19 changed the way we source, interview, and employ talent, and US workers are now using very different criteria to determine where, when, and how they want to be employed.

These massive shifts present a unique opportunity for employers and talent acquisition professionals. We now have the chance to proactively reshape the workplace in a way that affords more flexibility and choice. Over a six-month period, our views about what constitutes a workplace fundamentally shifted. With this shift come dramatic changes to how we work, in or outside of the office. In turn, we must consider the impact these transformations will have on. . .

Source: – Daily Articles and News

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