Skills Shortage | Why Competitive Compensation is the Key to Winning the Global Talent Race

Securing skilled professionals is more challenging than ever, and the competition is only going to grow.

74% of global employers are struggling to find the skilled talent they need, with tech organizations among the hardest hit – 54% report a skills shortage. As the demand for specialized roles like Big Data Specialists grows, offering competitive compensation packages remains key, with 70% of US workers willing to switch jobs for better benefits.

But what these benefits look like will vary greatly. To build competitive compensation packages, you need to understand employee preferences in each region and offer benefits that can cater to a diverse and growing workforce. This requires two key considerations: insight into the remuneration and benefits employees value most, and the flexibility to meet the needs of a wide range of potential hires.

The importance of data-driven compensation

It’s a delicate balance for businesses between offering attractive salaries and maintaining company budgets. Using a Global Salary Calculator, like Atlas’, can provide reliable benchmarks for each region and role type you’re hiring for. For example, using it to explore the average salaries for Data Science Managers, we can see variation across three key countries: