Higher salaries among Key trends for 2022

Higher starting salaries, increased compensation levels for existing talent and more flexible work arrangements are among the benefits executives have to look forward to this coming year, according to a survey of hiring managers.

With the economy and job market expanding at a healthy pace and the labor force tightening, the competition for skilled employees is intensifying.

Half of hiring managers expect to offer more generous compensation packages for new employees and three-fourths expect to increase pay for their current staffs in 2022.

A competitive year for employers looking to snatch up the best executive talent will mean increased salary offers, according to the survey

• 51 percent of hiring managers plan to increase salaries on initial offers
• 32 percent will raise offers by 3 percent or more
• 16 percent will increase offers by 5 percent or more
• 78 percent of hiring managers plan to increase paychecks for existing employees
• 57 percent of hiring managers plan to raise compensation levels by at least 3 percent
• 22 percent of hiring managers will raise compensation levels by at least 5 percent