Survey: Employers offer higher pay to attract talent

A new survey conducted by Wisconsin Manufacturers & Commerce (WMC) found that Wisconsin businesses are taking a variety of steps to attract and retain talent amid an ongoing workforce shortage. Nearly half of businesses plan to raise wages by more than 4% in 2022, a 12-point jump from January. The survey also found that additional benefits like remote and hybrid work are far more popular than two years ago. Before the COVID-19 pandemic, just one in 10 Wisconsin businesses offered remote or hybrid work options, according to the survey. That number has increased to 37% of businesses today. The survey also found that 85% of employers are struggling to hire, which is relatively unchanged from the last two surveys. Forty-five percent of businesses said they could not find qualified applicants, while another 36% said the labor shortage was to blame. Despite challenges, 62% of Wisconsin businesses still intend to increase their workforce in the next six months.