Many of today’s companies are fusion companies. For example, a company might manufacture electronic devices offline, sell those devices online, and offer other retailers a white-labeled version of their advanced e-commerce platform as a software-as-a-service. Manufacturing, commerce, and cloud-based technology all fused together under one corporate brand.
Because these fusion companies straddle multiple industries, they often need employees with a combination of highly specialized, industry-specific skills. And once these companies find unique talent, it can be hard to attract that talent to their unfilled positions. Job offers might be declined because they were based on insufficient compensation data. A lot of compensation sources only cover job titles by industry, revenue, company size, and region.
Throwing even more fuel onto the hot job fire, when a high demand for certain skill sets fuses with a low supply of workers with those specialized skills, you get a bunch of companies aggressively competing against each other for those workers. This results in escalating job offers, and thereby making it even harder to fill those ‘hot jobs.’
Read our Solution Brief: A Hot Compensation Solution for Hot Jobs to find out how PayScale’s data enables companies to fill hot jobs by broadening their labor market radius, keep up with rapidly rising skill premiums, transparently communicating total compensation packages, and building compensation plans to support long-term business goals. In this Solution Brief, you will also learn how some of our customers used PayScale data to overcome their hot job challenges.
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