The labor market has become fiercely competitive, with many businesses in leisure and hospitality struggling to staff enough workers to provide the kinds of experiences customers crave. Payscale delivers salary data and software solutions that help leading businesses in the leisure and hospitality industry build modern compensation programs to attract and retain talent.
In the recovering economy, the hospitality industry is struggling to find qualified applicants for their open positions. Competitive wages and total rewards packages are essential to attract talent in a volatile job market.
After a rough two years of difficult working conditions during a pandemic in combination with rising inflation and increases in opportunity, employees are expecting higher than average pay increases to keep pace with the market.
In a hyperactive job market, you have to think about pay equity. Pay for new hires can outpace tenured employees, even managers, which can put you at risk of higher voluntary turnover.
With all the challenges in the current job market, it is imperative for employees to understand pay policies and for managers to be trained on compensation.
Payscale gives you access to current salary data that you can cut any way you like it — even by competitors! — so you can make pay decisions right now.
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