CFOs are starting to adapt as more candidates press for higher salaries amid a tight labor market, The Wall Street Journal reports.
CFOs are learning quickly that they must increase the compensation above what they initially offered, especially as the war for talent heats up, according to the report.
Fifty-four percent of U.S. employees said they pressed for higher salaries with their latest job offer, according to a survey of 5,600 people from staffing firm Robert Half International. This is up from 39 percent of employees in 2018.
The proportion of job candidates negotiating a higher salary is expected to increase, especially as they leverage the strength of the U.S. job market, Steve Saah, executive director for Robert Half’s finance and accounting division, told the Journal.
Without increasing the initial offer, CFOs are realizing it can take a long time to fill job openings with the right candidate, according to the report.
Read the full report here.