The New York employment market is going to be much different in 2023 from what it was in 202...
The New York employment market is going to be much different in 2023 from what it was in 2022. Employers are increasingly focusing on the quality of skill sets rather than the quantity of CRM & Marketing Automation specialists they hire.
So, what should New York-based companies be doing in order to recruit and retain CRM & Marketing Automation talent in New York?
The New York working environment has changed significantly during the last two years and the employment market with it. In 2022, candidates saw everything from niche sign-on bonuses to inflated pay offers as businesses competed to attract the top talent.
With LinkedIn indicating that hiring rates slowed by 13% between September 2021 and September 2022 in the US, the job market is now starting to return to normal. We anticipate that as a result of this adjustment, salaries will start to level out in 2023. Despite this, specialized skill sets, such as CRM, continue to be in high demand and so employers should still expect to pay more for these experts.
Given the many changes facing New York businesses, employers should take time to evaluate their hiring strategies at the start of the year. We advise businesses to plan which skill sets they will need to build a successful marketing team and to accurately allocate the budgets to employ the best candidates.
Our CRM & Marketing Automation salary guide covers bonuses and permanent salary brackets for a wide range of marketing roles, from CRM Associate all the way through to VP of CRM.
To receive more personalized advice about your organization’s CRM needs, get in touch with Jonathan Catt, our expert CRM & Marketing Automation employment consultant. You can contact him at jonathan@3search.io
Although salaries and pay aren’t the only deciding factors for CRM & Marketing Automation specialists looking for a new role, it’s becoming increasingly important given the present economic environment. Many CRM Marketers are therefore reevaluating their current pay, considering the prospect of a pay raise and/or bonus, and, if they do not receive the compensation they need, considering new opportunities.
The implementation of the Salary Transparency Law in New York means that businesses will now need to regularly monitor salary changes across the market. With salary information now easily accessible by staff, it is easier for your employees to see if they’re being underpaid. As a result, it’s more important than ever before for New York businesses to benchmark salaries regularly across all roles in order to retain current staff and outcompete the competition for new hires.
Looking for more advice about attracting, retaining and recruiting top marketing and product talent in 2023, check out our full report, “How to Hire in New York: What marketing and recruitment will look like in 2023”.
The full report intends to assist New York organizations with their 2023 employment plans across every digital skill set, from digital marketing to social media & content, from demand generation marketing to product management. This report includes everything from the skill sets that employers should be prioritizing, to the compensation packages that New York employers should offer in order to attract and retain marketing and product talent.
