UK 
United States
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:
Germany: £75,900
Ireland: £58,000
Singapore: £72,400
Salary benchmarks are also useful in pinpointing where to find highly skilled employees at lower costs. Factoring this in with other regional costs of employment can help your HR team build a cost-effective and successful recruitment strategy, tailored to specific regions and candidate expectations.
Amongst diverse benefit preferences, choice is key
While salary insights help shape compensation strategies, changing laws, expectations and evolutions in work habits make it harder than ever to offer a unified, universally appealing benefits package.
Recent regulations – like the UK’s Employment Rights Bill, the U.S. Pregnant Workers Fairness Act, and Right to Disconnect laws – add new HR obligations that must be reflected in compensation packages to ensure compliance.
Cultural expectations around benefits are even more nuanced, from healthcare — cited as essential by 88% of U.S. workers — to paternal leave and region-specific bonuses, like Japan’s bi-annual bonuses. While not legally mandated, overlooking these perks could put your company at a disadvantage in the race to secure the best talent.
Choice and flexibility are key, with 78% of Americans prioritizing work-life balance when choosing a job. Businesses that offer flexible benefits plans — covering health, EAP, and financial benefits — help employees achieve that balance, while showing that they care about their current and future employees.
And when that message gets promoted on platforms such as LinkedIn and Glassdoor, employee satisfaction can become a powerful recruitment tool.
EORs help to streamline competitive and unified benefits
With its global scope and expertise, working with an Employer of Record (EOR) like Atlas provides the insight and flexibility to build and execute your recruitment strategy. An EOR helps companies of all sizes access premium benefits wherever their employees are based, enabling comprehensive, affordable packages that allow them to compete with larger companies.
Every region, and even every employee, will have different preferences. But offering globally unified and flexible packages will cater to a range of regions and expectations – a winning recruitment strategy that will attract and retain top talent in an increasingly competitive job market.
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Try Atlas’ Market Intelligence Tools for Yourself
Atlas offers a range of market intelligence tools that offer a glimpse of its deep knowledge of 160 markets—available for free.
Its Global Salary Calculator uses current global salary benchmarks to give an indication of salary range, demographics and sectoral information to give insight into hiring a host of roles in a host of countries.
Atlas also offers a Global Cost Calculator that provides context on the cost of hiring for several roles and countries; and a Global Compliance Risk Calculator to assess misclassification risks. These tools empower businesses with the data they need to make informed hiring decisions, optimize workforce costs, and navigate global compliance with confidence.
