Pay rises are on the way

NEARLY two-thirds of Australia’s big businesses are struggling to fill job vacancies and are flagging higher wages to lure new staff while preventing current workers from being poached.

The American Express global business and spending outlook found 63 per cent of Australian respondents will need to raise wages this year.

This is well ahead of the global average of 37 per cent, and more than China, Japan, Hong Kong, the UK and US.

Other measures considered are improved retirement benefits, allowing flexible work arrangements and improving the work environment.