Six Out of 10 U.S. Firms Raised Starting Wages by 10% in Survey
- CFOs survey finds 74% had difficulty filling job openings
- One third are exploring automation to replace workers
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About six out of ten companies are increasing starting wages, by an average of 9.8%, to try to fill job vacancies, according to a survey of U.S. chief financial officers.
Almost three quarters of the respondents said their companies are having difficulties hiring. Among them, a third are implementing or exploring automation to replace workers, according to the CFO Survey, a collaboration of Duke University’s Fuqua School of Business and the Federal Reserve Banks of Richmond and Atlanta that polled 1,083 finance chiefs last month.