BisNow reported the findings of the Marcum-PAS Contractor Compensation Quarterly.
By Deirdra Funcheon
A high degree of wage compression occurs when new hires command higher wages than current employees — often when there is a decline in construction activity followed by high demand, according to the report.
“When this occurs, the company must overcome ‘sticker shock’ and match the marketplace which most likely means a general increase to bring wages up to changed market conditions for key job families,” the report said.
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