Despite the uncertain economy, businesses will need to increase salaries by up to 3.5% for high-demand roles if they want to remain competitive in the labor market.
Changes in consumer behavior are a big driver here, according to a report from Randstad US. Demand for workers in industries such as manufacturing and logistic has risen along with the amount of business being conducted online. By 2024, Randstad said, digital orders are expected to reach $477 billion.Increasing e-commerce activity is pressuring employers to raise salaries for workers in factories, warehouses and even marketing. @randstadusa #HR #HRTech Click To Tweet
The Randstad US Salary Guide suggests that jobs like warehouse and logistics managers will receive some of the largest salary increases as businesses struggle to fulfill e-commerce orders. Salaries for warehouse managers, for example, need to increase 3.5%, to as much as $43.21 an hour, to remain competitive. Logistics managers will need a similar increase, to $45.95 per hour.
Higher Salaries in Manufacturing
Manufacturers will have to spend in order to retract and retain assemblers as factory activity hits a 30-month high, Randstad said. Assembly line foremen may see raises of 2.4%, to as much as $32.37 an hour. The company also expects increases in the competitive pay rate for technology and skilled roles across the country.
Workers in fields like online sales and marketing are also seeing an increase in demand, which will likely lead to pay increases this year. E-commerce business analysts and marketing media managers, for example, are likely to see a 0.5% bump, hitting annual salaries of up to $107,107 and $131,130, respectively. Again, the increases are largely driven by the pandemic-spurred rise in e-commerce activity, which has accelerated a shift away from brick-and-mortar stores to digital shopping.