How have employers kept wages in check in the face of these extremely tight labor markets? The answer is unclear. However, two sets of strategies appear to have emerged. The first is common to expansions and involves widening recruitment, expanding training, upgrading existing workers, and/or lowering normal hiring standards. The second involves the use of signing bonuses, stock options, profit-sharing, and other forms of non-wage compensation.
Employers engage in a number of strategies in response to a shortage of workers.