Thelander PC Digest: January 2023

What are Hiring and Compensation Trends for 2023?  

In this Thelander Digest, we look at hiring and compensation trends for 2023 using the results from the recently published Thelander Year-End Merit Increase, Option Pool & Bonus Report. 

As our data shows in the graphs below, the percentage of salary increases for staff-level employees went up in every percentile from “for 2021” to “for 2022.” We also take a look at the factors that lead to salary increases for 2023.

What trends are we seeing for 2023?

• 88% of companies are planning to hire in 2023.
• Out of the companies hiring, 76% reported that they will be making 1 – 10 key hires.
• When looking at factors for salary increases for staff-level employees, 73% of companies are giving merit or performance-based increases, followed by COLA. Inflation was a new category this year.

The Thelander Private Company Compensation Survey is now open year-round with monthly updated on the online platform. All of the data presented in this newsletter is powered by the Thelander’s real-time compensation data. There is no cost to participate and all respondents will receive free access to a subset of the results through a silver level subscription. 

Participate in the Thelander Private Company Compensation Survey Here for FREE Compensation Data

Did you enjoy our Thelander Digest, have ideas for future ones, or want to learn more about how J.Thelander Consulting can help you make informed decisions when it comes to hiring, incentivizing, and retaining talent? Email us here or give us a call at 305-793-8605. We love to hear from you!