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October 24, 2006
Employers Raising Wages Because of Talent Shortages

Thirty-eight percent of employers in the United States say that talent shortages are causing them to offer higher compensation for professional positions, according to a survey by Manpower, Inc.

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Employers in the South (42 percent) and West (40 percent) were more likely to say that talent shortages are causing them to offer higher compensation for professional posiitons, compared with employers in the Northeast (34 percent) and Midwest (33 percent).

Forty-five percent of employers said they would have hired more permanent professional staff in the past six months if quality candidates were available.

"The talent shortage is here and wage inflation is increasing in the specialized skill sets and industry sectors where talent is already scarce," says Jeffrey A. Joerres, chairman & chief executive officer of Manpower. "As those trends increase, employers will have to work much harder to retain and optimize their existing permanent professional employees, and develop innovative ways to attract and retain new talent. Developing a strong employer brand will become even more important as the war for talent heats up."

The survey included 1,000 respondents in the United States . For the survey, Manpower defined professional positions as those that typically require a university degree, such as accountants, engineers, nurses, sales/marketing managers, etc.

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