Job Market Forces Employers to Overpay for New Hires [1]
The latest edition of the Gartner “Global Talent Monitor” report states that employers concerned about the competitive job market often offer higher starting salaries than prospective employees are seeking.
This often creates a negative cycle within the organization.
“Not only are U.S. employers often paying too much to new workers, but once tenured employees discover discrepancies between their salaries and those of new colleagues, they may be more inclined to look for another position elsewhere,” said Brian Kropp, HR group vice president at Gartner, in a statement.