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As we head toward the new year, salaries are likely on everyone's mind. This month we feature an article on starting salaries and the shortage (yes, shortage) of highly qualified professionals. If you missed our last edition of Reach, please click here to read about building culture from the leadership perspective.
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Starting Salaries Increase and Professionals are Hard to Find!
Starting salaries, particularly for professional positions, will increase almost 4% in 2014, according to several sources. Entry level pay for positions in technology fields are projected to increase an even higher 5.6%. Base-pay increases for those not newly hired will remain steady at 3%. One of the reasons for the increases may be that, despite the unemployment rate and the slow economic turn-around, many companies are reporting difficulties attracting and retaining staff with higher skill levels.
Is your organization prepared for recruiting highly skilled candidates? Have you reviewed your starting salaries, not to mention your entire salary structure lately? Now may be the time, as it is an employee's market. We can help. The Singer Group has successfully conducted compensation studies for organizations in the public, non-profit and private sectors. More importantly, we've worked with these organizations to successfully implement the results of these studies - improving their compensation profile and ensuring that they are competitive in their market-places, a critical step in this type of market. Contact us today to see how we can help!
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More About Generation Y ...
We've been writing a lot about generational differences in the workplace lately. It's a topic deserving of some attention if your organization has employees (in other words, everyone needs to pay attention).
Lots of Gen Y-ers, thanks to some very attentive (read helicopter) parents, think they are VERY special. But while they may be the star of their own reality shows, they are also, often, quite unhappy. The big reason why? Gen Y wants not only to be successful but fulfilled in all aspects of life, including, of course, at work. Compound this with an innate sense of being special, and you've got some pretty tough orders to fill when providing a workplace that is engaging and fulfilling enough for Gen Y. Compound this with the constant reminders that social media provide to Gen Y-ers, reminding them that maybe they aren't all that special or successful after all - in fact their entire college class is just as special, and you've got some real obstacles on your hands as an employer. What's an employer to do? Encourage your Gen Y employees to stay ambitious, and allow the risk-taking that goes along with that. Remind them that hard work pays off, and it doesn't always happen in the first 10 minutes. And finally, reinforce the idea that if they do their own thing well, it won't really matter what everyone else is doing.
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We hope you enjoyed this addition of Reach. As always, please feel free to share your thoughts with us, as well as pass on this eNewsletter to anyone you think might benefit.
To reaching success,
Paula M. Singer, Laura Francisco & Lorraine Kituri
The Singer Group, Inc.
410-561-7561
contact@singergrp.com
www.singergrp.com
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What's New?
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The Harris County Public Library seeks a dynamic, outgoing and creative Library Director to lead this innovative Library into the future. With an annual circulation of over 10 million items, HCPL has a network of 26 community-focused branch libraries and is committed to providing excellent customer service, strong collections, and cutting edge information technology for the 21st Century. Click here to view the job posting and learn more.
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Our colleague Miriam Pollack is offering Career Coaching, Resume and Interviewing Skills Development. Miriam has conducted more than 30 successful searches for library directors and key staff and can help you present your best self. For more information, contact Miriam by email or at 847-272-5011. - The Singer Group was named one of the Baltimore Business Journal's Fastest-Growing Women Owned Businesses... read more
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