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Does Pay Matter?


Does Pay Matter?
  • AuthorBonnie Johnson
  • DateMarch 31, 2021
  • MediumNewsletter Article
How much does salary matter when job seekers are weighing the decision to change jobs? Learn the importance of pay and how salary benchmarking can help businesses thrive.

Agricultural employers said that competition for talent was their top human resource concern in 2020. When we asked employers how they compete, a positive work culture was top, followed by a safe and healthy work environment, and better benefits (2020-2021 Agribusiness HR Review). Ultimately though, it’s the job seeker that decides if they’re content, or if they’ll search for and accept a new offer. So, what do job seekers say will make up their mind?

 

Jobvite recently released their 2021 Job Seeker Nation Report of workers they surveyed across a variety of industries. Job seekers reported that their top influence in accepting a job offer or not was overall compensation. Despite the pandemic job market, workers were increasingly comfortable in negotiating salaries and asking for a raise.

 

Compensation considerations aren’t much different when we look specifically at the agricultural industry. Compensation is consistently among the top considerations for job seekers. In our 2018 Candidate Experience Survey, compensation and benefits was second only to ‘job fit’ in what candidates look for most in an employer. When AgCareers.com polled agricultural candidates about their most likely motivators to leave a current job for another opportunity, career advancement, followed by higher compensation were two of the most likely motivators (2014).

 

According to candidates, pay matters. How do agricultural employers know if they measure up and compete? Salary Benchmarking. Around 80% of agribusinesses participate in or purchase salary surveys for benchmarking. The AgCareers.com Compensation Benchmark Review serves the unique needs of the agribusiness industry like no other salary survey can. Find out more in our video here, or contact compensation@agcareers.com for details.

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