Summary
- Labor market conditions are more dynamic than they have been in over 40 years – changing rapidly and unpredictably
- Traditional sources of market intelligence and traditional planning parameters are no longer effective
- Company leaders are flying blind when making decisions needed to attract and retain workers
- Greenwich.HR offers the only next generation source of market intelligence that is real-time, forward-looking, and effective in today’s economy
The labor market is changing faster and more unpredictably than it has in over 40 years.
![Screenshot 2022-07-27 212004](https://wagescape.com/wp-content/uploads/2022/07/Screenshot-2022-07-27-212004.png)
Traditional market data sources rely on historical analyses and cannot keep up with this pace of change.
Wage inflation is well beyond ‘normal’ planning parameters. Real-time pay intelligence is required to attract and retain talent. Leaders are flying blind when it comes to understanding competitive pay
Typical salary planning manages salary raises of 2-5%.
Since the beginning of 2021, advertised salaries for new positions has increased over 30% nationwide, but can vary significantly across local markets and specific jobs.
![Screenshot 2022-07-27 212617](https://wagescape.com/wp-content/uploads/2022/07/Screenshot-2022-07-27-212617.png)
Pay rates are changing at very different rates across markets and jobs.
Change in advertised salary levels between Q1 2021 and Q2 2022.
Sample of 25 high-volume job titles.
In spite of overall wage inflation, pay for some jobs has actually decreased nationally or locally.
![Screenshot 2022-07-27 213016](https://wagescape.com/wp-content/uploads/2022/07/Screenshot-2022-07-27-213016.png)
Skills requirements are unique to each local market and change rapidly.
Salary premiums for specific skills (top 5 shown for each market for Q2 2021 vs Q2 2022)
Job: Account Executive
Note that the most in-demand skills are substantially different across markets and time periods.
National-level statistics on job content have very limited practical use for human capital applications.
![Screenshot 2022-07-27 213539](https://wagescape.com/wp-content/uploads/2022/07/Screenshot-2022-07-27-213539.png)
Greenwich.HR offers the only real-time source of market intelligence that provides insights on how to compete locally for the skills companies need.
- Greenwich.HR has the world’s largest and fastest growing real-time source of labor market intelligence. The scale and precision of this data supports the the detailed analyses that data analysts demand.
- Greenwich.HR’s data platform fuels world-class applications and research across a wide spectrum of use cases.
- Greenwich.HR’s next-generation normalization technology enables a complete view of talent behaviors, hiring behaviors, and forward-looking pay behaviors.
- Greenwich.HR is the world’s best at capturing forward-looking, company-originated pay. Over 75 percent of all jobs we track include salary levels – millions of new jobs each month at all levels.
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