Drill Down Deeper
If you are creating compensation plans in the coming months, make sure you use the right data, advises Katie Bardaro, PayScale's lead economist. Looking at the wider economy, you hear news of sluggish hiring and persistent unemployment. If you just used that information, you could assume that the competition for talent is relatively light. For some companies that may be the case, but to make the best compensation decisions for you company, you need to drill deeper, according to Bardaro. The PayScale Index, which was recently updated, provides detailed data on the U.S. salary growth rate across the entire economy, but also at the metro, industry and job category level. Below are some of the details it reveals.