August 10, 2021

BisNow reported the findings of the Marcum-PAS Contractor Compensation Quarterly.

BisNow

By Deirdra Funcheon

Marcum PAS Contractor Compensation Quarterly Construction

Excerpt:

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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Related Industry

Construction