Compensation Benchmarking Common in IT Employment Industry to Retain Talent shares employment trends for 2014

According to CIO magazine, an increasing number of employers are turning to compensation benchmarking to recruit and retain talent. CEOs across the country are turning to salary analytics tools such as PayScale to determine appropriate salaries for new hires.

While IT salaries tend to range based on programming languages, applications and frameworks salary data provides a good starting point for many hiring managers when calculating salaries.  In an ever expanding industry, compensation levels must be adjusted based on new skills needed from IT professionals.  With this in mind technology hiring managers must adapt benchmarking tactics for new as well as current employees who have increased their skillsets.

The innovative tactics seem to be working as the IT industry has yet again seen high job gains.  According to the recent Employment Situation Economic Release from the U.S. Bureau of Labor Statistics (BLS), which was published May 2, 2014, there was a slight increase in the number of jobs in the computer systems design and related services sector.  The sector added 9,000 jobs in April, employing a reported 1,748,300 people.

The unemployment rate in the professional, scientific, and technical services sector dropped to 3.8 percent in April, close to 3 percent lower than the national average.


Category: IT Employment News

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