WORKOUT Pay rises of 10-15pc for boom sectors
THE news is all good on the salary front. This year will be marked by a 10-15 per cent increase across the board, according to the ninth annual Global Salary Survey launched by recruitment consultancy Robert Walters.
Executives will command twice that level of pay increase, the survey predicts.
Skills shortages and the rush to retain talent will define recruitment practices in businesses, Richard Parnell, chief executive of Robert Walters AsiaPacific, says.
The unbridled strength of the regional economy in Perth, and the number of multi-billion dollar infrastructure projects across Brisbane in particular, have seen both states drive opportunities for business growth, attractive job prospects, and high profile work for local and international candidates, Parnell says.
With unemployment at a 30-year low, there is no escaping the significant pressures of the skills shortage.
In effect, strategic recruitment and staff retention have to become ingrained in the long-term growth and succession plans for Australian business.
The candidate market is rife with counter-offers and significant pay increases, while employers find themselves under pressure to quickly adapt to market demand and develop full-package salary and benefits to attract top talent.
In many instances, the so-called shift in power has seen candidates confidently hold off on job offers, instead waiting for the most attractive packages, he says.