7 Reasons New Hires are Earning More than Existing Employees

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1. The Competitive Job Market: The job market today is fiercely competitive.

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2. Inflation & Cost of Living Adjustments: Inflation has a direct impact on salaries. 

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3. Skill Set Evolution: The rapid pace of technological advancement means that the skills in demand today.

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4. Benchmarking & Market Rates: Companies regularly conduct market salary benchmarking to ensure they remain competitive. 

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5. Negotiation Leverage: New hires often have stronger negotiation leverage than existing employees. 

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6. Retention Strategies Lagging: Retention strategies in many companies are lagging behind the aggressive tactics used to attract new hires. 

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7. Economic Uncertainty & Employer Risk Aversion: Economic uncertainty can lead employers to become more risk-averse. 

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