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Nicole Cox to Monster.com: Compensation Strategies for Today’s Hottest Labor Markets

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Decision Toolbox Chief Recruitment Officer Nicole Cox’s insight into recent trends for compensation strategies was cited in a recent Monster.com article.

Excerpts from the article:

Some of today’s hottest labor markets are pushing the boundaries of compensation. Data geniuses in finance can demand a big bump-up in pay. SQL and Java programmers are needed in great numbers, and their pay is rising apace. Healthcare executives who manage to maintain both quality and profits can earn big bonuses.

But beyond those and closely related examples, the majority of employers are successfully holding increases in cash compensation to new-normal lows as part of their compensation strategy.

Adding perks in lieu of bigger raises. Whether they see perks as a higher-value alternative to bigger pay increases or as a way to burnish their employer brand, many companies are taking another look at total rewards. Among the extras that some employers now offer are personal financial-planning and legal services, additional paid time off, and health and wellness benefits, says Nicole Cox, chief recruitment officer at Decision Toolbox.

Signs that key employees have the advantage. Employers generally are loathe to return to compensation practices that might sow internal turmoil or bring on a cascade of compensation cost increases. But in select occupations and industries, they’re feeling the need to do so in 2016. “Signing bonuses  are up, and we’re seeing a rise in counteroffers,” Cox says.

Check out the full article here.

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