Increasingly today, it is becoming more and more difficult for organizations to recruit and retain top employees. With the construction industry enveloped in a war for talent, professional pay levels have risen in many areas throughout the nation as organizations are offering higher wages to attract critical employees. The rise in labor costs has greatly affected company profit margins. As profit margins thin and labor costs rise, it is imperative that organizations take a data driven approach to closely monitor pay changes in their competing markets to remain equitable and competitive.
During this webinar, attendees:
- Discussed why more construction firms should participate in compensation surveys to monitor wage changes in the market
- Explored FMI’s suite of compensation and benefits survey offerings
- Reviewed the benefits of participating in non-crowdsourced, statistically valid surveys