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Mind the gap: Bosses plan to lift wages but workers want more

Business

Employers have started reviewing workers’ salaries but Hays Group has warned a gap in expectations has emerged.

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It said that after a year of stagnation, almost 70 per cent of employers in its survey intended to increase salaries in the year ahead, “which is a remarkable sign of confidence’’.

“But the value of these salary increases will be low, creating a gap between what employers will offer and employees expect,’’ it said in a report released today.

It said skilled professionals were frustrated by a lack of promotional opportunities, which was the number one reason driving these people into the jobs market today.

“Almost one-quarter blame the COVID-19 pandemic for decreased career progression within their organisation,’’ the report said.

“Already, 38 per cent say they plan to look for a new job in the next 12 months, while a further 39 per cent are open to new opportunities.’’

In the next 12 months, 64 per cent of employers said skills shortages would impact the effective operation of their organisation or department, either in a significant or minor way.

It said that in Queensland, 68 per cent of employers were witnessing a return to growth and were confident about the year ahead. The banking and technology sectors were most confident.

Almost 50 per cent of employers intended to increase permanent staff levels in the next 12 months, while 15 per cent will increase their use of temporary or contract staff.

Significantly, of those skilled professionals who worked remotely during the pandemic, only 7 per cent wish to return to the workplace fulltime, but in 12 months’ time,

It found 63 per cent of employers would like their staff to be working one, two or three days remotely, with the remainder in the office.

 

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