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At WorldatWork, we are committed to providing actionable data and industry insights, and this survey serves as a vital tool for organizations navigating the complex world of compensation structures."

The tech industry serving employershas come a long way, and Shiftboard is no different.

Salary budget survey reports created and offered by WorldatWork and other entities speak to geographic, industry and workforce trends and inform on the economic and societal factors shaping compensation in all its forms (base and variable pay, bonuses, promotional increases, and more) for exempt and nonexempt workers.

Employers today spend an average of $37 per hour worked, or roughly $77,000 on compensation per employee per year, making personnel one of the largest line items on company budgets. 1 Beyond base pay, organizations also invest heavily in other rewards offerings.

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Chinese Finance Industry Experiencing Significant Pay Cuts As the country experiences an economic downturn across industries, employees in the Chinese financial sector have taken compensation cuts of as much as 40% in 2023, Bloomberg News reports .

Recent ZS benchmarking surveys indicate that quota setting is still the No. 1 issue for sales compensation professionals today.

Among industry sectors, employment continued to trend up during the month in health care (+55,000), construction (+25,000), and transportation and warehousing (+14,000), while information lost jobs (-20,000).

Be aware of hidden fees, and benchmark against industry standards.

However, these solutions vary by industry due to different product/pricing models.