Talent Management

The state of employment and wages [report]

The State of Employment and Wages

The post-pandemic workforce continues to evolve into something new for CEOs. Workers have more options than ever before. They can upgrade their positions while considering factors like a company’s purpose and values, their role, compensation, development opportunities, benefits, and now flexibility.

Get the special report: The State of Employment and Wages

The State of Employment and Wages Get Report

And companies will pay for those services if they want to keep their doors open. According to Vistage research, 62% of CEOs report hiring challenges are impacting their ability to operate at full capacity. While that is a 10-point drop since earlier in 2022, that is still over 6 out of 10 small and midsize businesses that don’t have the talent needed to meet customer demand.

This has led many leaders to focus on how to differentiate their company in the competitive labor market, as 52% of CEOs plan to increase headcount in the year ahead. That’s on top of the 53% of CEOs who have already increased headcount since the start of the year, compounded by the fact that 30% plan to hire more than originally planned.

Such is the case when a pandemic upends the traditional, Industrial-era style of working. COVID-19 ignited instantaneous behavior change, forcing many businesses into a work-from-home model to survive. And once given the chance, knowledge workers proved they could maintain productivity remotely without having to commute every day.

Since then, companies are figuring out how to pivot from the traditional model — a “Workplace 180,” if you will. Now, individual tasks are done remotely. Interactions take place both virtually and in person. Leaders focus more on analyzing performance and productivity than monitoring time and attendance.

What does that mean for the future of work? Vistage speaker, member and strategy expert Marc Emmer dives into the key forces driving today’s workplace in The State of Employment and Wages.

This special report examines how spiraling wage pressures, the hybrid work environment and employee satisfaction all contribute to this workplace evolution and provides the best practices CEOs need to unleash the productivity of their workforce.

Download the report

State of Employment and Wages

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Category : Talent Management

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About the Author: Anne Petrik

As Vice President of Research for Vistage, Anne Petrik is instrumental in the creation of original thought leadership designed to inform the decision-making of CEOs of small and midsize businesses. These perspectives — shared through repo

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