Hard times also confront local employers . . .
Check this info on local salaries and realize that local biz might not have the cash/revenue to keep up and thereby remain vulnerable to losing their very best employees to the competition.
Check-it . . .
In Kansas City, median weekly earnings rose 4.5% during the past year. Meanwhile, the cost of living rose 5.67% in Kansas City between the first quarter of 2021 and the first quarter of 2022. Since 2019, it has risen 8.4%.
That combination of factors means what would have been a traditional raise two or three years ago may not cut it for many employees — especially when it's far from what they could fetch on the open market.
Read more via www.TonysKansasCity.com link . . .
Carol Schmidt has more than two decades of experience in the recruiting world, but what she's seeing in 2022 is unprecedented. That's particularly true when it comes to how companies are approaching pay. "We've never seen the pay-rate increases that we've seen over the past year," said Schmidt, senior director of human resources at Morgan Hunter Cos.