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Compensation Trends For 2019: How To Stay Competitive In A Shifting Job Market

Webinar: ID# 1034403
Live on 11/13/2018 from 1:30 PM till 3:00 PM or via On-Demand
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About This Course:
The Compensation field is experiencing one of its most intensive periods of change in its modern day history. The changing economy means HR should be looking at ways to change the organization’s compensation strategy.

While the economy seems to be booming, pay budgets appear to remain somewhat flat despite the low unemployment levels. According to the WorldAtWork 2018 2019 Salary Budget Survey: Top Level Results, released in July, U.S. salary budgets are projected to rise to 3.2 percent in 2019.

Right now, it’s a tight job market, with plenty of job openings and lower unemployment levels, which makes hiring and retaining high quality workers even more competitive. And, while there are plenty of workers looking for jobs, they are also leaving in pursuit of companies that will pay more or offer better perks.

Also, there is a growing number of gig economy workers. In 2017, the Bureau of Labor Statistics reported there were 55 million “gig” workers, representing an estimated 35 percent of the U.S. workforce. Experts expect that number to jump even higher in coming years, so organizations need to carefully consider the use and costs of contractors and provide goals and benefits to both in house and outsourced employees to encourage company engagement.

While most organizations are proceeding with caution when it comes to increasing their compensation budgets, it makes sense to carefully review your plan and ensure that you’re in the same range as your competitors. And, with the glut of available job openings, you may also want to look at other forms of compensation that make your organization desirable.

Join us for an in depth webinar on how these compensation trends will impact you and your organization, and what steps you should be taking to prepare for 2019.

What You'll Learn:
  • Compensation trends and projections for 2019
  • How companies are holding the line in their compensation levels, despite tax breaks and a growing economy
  • What the current job market (many openings and increasing rates of turnover) means for your organization
  • Increasing numbers of workers in the “gig” economy—how that can work (or not) for your organization
  • How to review your budgets and situation to determine whether to use bonuses
  • Ideas to keep your in house employees happy, if not with raises and bonuses, then with other benefits
  • Strategies to keep your organization competitive in 2019 by reviewing your industry pay ranges
  • How reviewing employee compensation within a given pay range can help you to identify compression problems
  • Key questions you should be asking about your pay practices and overall compensation philosophy
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Compensation Trends For 2019: How To Stay Competitive In A Shifting Job Market
Available Live on 11/13/2018 or On-Demand format
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