One of the top business challenges for NBMDA members continues to center on competing for talent. To be successful, member companies must be aware of current compensation levels, benefits and flexible working opportunities to address recruitment and retention challenges.
The focus on talent acquisition and retention is not surprising. In a labor market that has over 11 million job openings and just under six million unemployed people looking for work, there are essentially two open positions for every candidate. Furthermore, the unemployment rate is hovering near pre-pandemic lows. Even with the economy expected to slow further 2024, members will continue to struggle to attract, hire and retain the impact players in their market.
According to a recent LinkedIn poll with tens of thousands of responses, the number one reason why people are looking to change jobs is to obtain better compensation. With that in mind, NBMDA has partnered with the Bundy Group to bring high-quality compensation information to members.
Leveraging a platform called LaborIQ from ThinkWhy, the new employee compensation dashboard and reports available exclusively to member companies strive to deliver timely, accurate and actionable insights into the competitive market rates for positions that are most in-demand.
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