Friday, January 21, 2022
by Bailey
2021 was the most interesting period to navigate in the last 30+ years. We started with expectations of a Covid solution, received the solution and then in 4th Quarter, Omicron arrived. 2021 was impacted by supply chain challenges, inflation of 6.8%, price increases, and significant changes in business approaches (one out of 7 now works virtually). Some businesses were impacted negatively (e.g., travel, entertainment, retail) and some had 10+% growth activity (e.g., leisure products, packaging, biotechnology). There were 6.8 million jobs created and salaries increased on average by 4.7%. At the end of 2021, unemployment was at a 3.9% rate.
B&B experienced an increase in confidential replacements primarily due to the need to upgrade. Additionally, we saw expansion, acquisition integrations, retirements, promotions, and replacements due to employees quitting. From the candidate viewpoint, the #1 reason for change was compensation followed by career advancement, work life balance, and concern on the wellness or leadership in their present employer. Over 50 million employees changed employment in 2021 with Q4 being the largest at 13+ million.
2022 is projected as the Year of Resignation or the Big Quit. Recent surveys by various sources state that over 40% of current exempt level employees are open minded to new employment. For the hourly, the prediction is higher. The competition for talent is ideal for value-adding candidates and a real concern for the employer. Companies are offering sign-on bonuses, training, flexibility in hours, increased benefits, free lunch and other perks to attract and retain employees. The big challenge is how does an employer build their brand and foster employee loyalty.
Key drivers for change on the negative side are:
- annual raises are less than inflation rate
- fear of getting sick
- lack of childcare and family support
- undefined career progression
- concerns on wellness of the business
- increase in personal expenses (e.g., travel)
On the positive side, drivers are:
- career progression
- 10% to 30% salary increases
- enticing reward & benefit programs
- proactive culture
- better training/skills development
- value of the role
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Monday, January 3, 2022
by Bailey
CONTROLLER, New Haven, CT: $140,000 to $200,000 (Depending on experience) plus bonus and equity
TAX DIRECTOR, Meriden, CT: $130,000 – 150,000 (DOE) plus bonus 12-15%+ and excellent benefits
OPERATIONS MANAGER, Winter Haven, FL: $90,000-$100,000 DOE, excellent benefits package
MARKETING COMMUNICATIONS PROFESSIONAL, Clinton, CT: $80,000-$95,000 DOE for base pay, amazing benefit package including profit sharing!
PROCUREMENT SPECIALIST, Burlington, CT: $60,000-$80,000 DOE, bonus eligible and excellent benefits
PROJECT MANAGER, Orange, CT $85-$100,000 base salary DOE plus bonus, and a comprehensive and competitive benefits package. Hybrid work schedule available.
PLANT ENGINEER, Shelton, CT: $90,000-$115,000 DOE, excellent benefits package
PRODUCTION MANAGER, Allendale, NJ: $85,000 to $100,000 in base salary, plus 10%-15% annual bonus opportunity.
CUSTOMER SERVICE & WARRANTY SPECIALIST, Torrington, CT: Target salary $50-60k and benefits package.
DESIGN / PROJECT ENGINEER, Clinton, CT: $80,000-$100,000 DOE plus profit sharing, superior benefits and upside potential
CONTROLLER, Providence, RI: $110,000 to $140,000 salary DOE plus bonus potential.
REVENUE DIRECTOR, Princeton, NJ: $150,000 to $200,000 DOE plus 20% bonus, LTI and superior benefits.
REGIONAL SALES MANAGER, Trenton, NJ: $120,000 to $140,000 DOE plus 15-25% commission; great benefits, products, company, and team; and upside potential.
MANAGER, ACCOUNTING PROJECTS, Stratford, CT: $120,000-130,000 plus 10%+ bonus up to 20% (DOE). Excellent benefits. Promotional opportunities.
NPD PROJECT COORDINATOR, Torrington, CT: $60-75k plus bonus and benefits package.
PRODUCT DESIGN ENGINEER, Torrington, CT: Target salary $80-95k plus bonus and benefits package.
SENIOR FINANCIAL ANALYST, Longmeadow, MA: $85,000 to $125,000 depending on experience plus 10% target bonus.
SENIOR TAX SPECIALIST, Milford, CT: $80,000 - 120,000 (DOE) plus bonus up to 5-10% and excellent benefits offered.
CHIEF HUMAN RESOURCES OFFICER, Hartford, CT: Salary target $250-300,000 plus comprehensive benefits package.
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Friday, December 10, 2021
by Bailey
As the new year approaches, many are taking lessons learned in 2021 to apply to the future with regard to hiring. Hybrid workplaces are becoming the norm while compensation equity and diversity initiatives are the priority. Staying ahead of the competition for acquiring talent is a real objective and many companies are outsourcing recruiting to professional consultants in order to better tap into the talent pool. Networking and cultivating business relationships in an authentic way is the key to success for 2022. With a vast network of top talent in Accounting, Finance, Banking, Engineering, Human Resources, Manufacturing, Marketing, Operations, Sales, and Supply Chain, the B&B team is a powerful ally in the quest to hire the best!
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Thursday, November 25, 2021
by Bailey
We are so grateful for the trust and partnership of our clients and the opportunity to help our candidates build their careers.
We wish you all a Happy Thanksgiving!
Sincerely,
The Bohan & Bradstreet Team
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