As employers continue to struggle navigating through the ongoing workforce shortage, more businesses are looking at increasing wages to attract new employees.
A Wisconsin Employer Survey (winter 2022 edition), released Monday by Wisconsin Manufacturers & Commerce (WMC), shows that eight in 10 companies in the state plan to raise wages by 3% or more this year. Data provided also shows that 34% of businesses in Wisconsin said they plan to raise wages by over 4%.
These planned increases in wages comes at a time when 88% of Wisconsin businesses are struggling to attract new workers, according to the WMC survey. This number is up slightly from a WMC survey released last June, which showed 86% of employers saying they were struggling with hiring.