By SIMON CONSTABLE
It’s seemingly great news, American wages and benefit levels are growing at their fastest levels in years. But while U.S. workers are cheering, the speed of the growth is forcing some leaders into facing some difficult questions about the employment costs.
New government data showed that the costs of U.S. salaries and benefits surged in first three months of 2018. Wages grew at an annualized 2.7% clip in the first three months of 2018, the fastest increase since the Great Recession. Meanwhile, benefits costs jumped at 2.6% annualized pace, the quickest since 2015. But many executives remember that it was not even a decade ago that they were doing everything to make sure their company survived following the financial crisis, says Bob Wesselkamper, global leader rewards and benefits solutions for Korn Ferry. “They are still acutely aware that raising your cost base isn’t wise,” he says. Read more here.
Photo by Uday Mittal on Unsplash
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