NJBIA released its 63rd annual Business Outlook Survey on Nov. 30. While much of the attention of the 2022 outlook survey focused on hiring challenges and employer morale, there were many other facets of the survey.
Today, we look at deeper at the employment and wages data found in this year’s Business Outlook Survey.
While wages were up in 2021, respondents were mixed the notion of resolving hiring challenges by having to pay more:
- 39% said they believe staff pay should only be commensurate with the economic value of the position and what they could afford as an employer
- 33% said they now believe they’ll have to pay beyond the economic value and what they can afford in order for their business to be competitive
- 16% said they always believed they should pay beyond the value of the job to be competitive