Top talent flight risk
Key Survey Findings
40% of white collar employers will be raising salaries in the next six months
The majority of salary increases will be between 2% and 4%
Most increases
are planned for back office support roles in areas such as accounting,
marketing, human resources and technology
Sydney, 28
July
2010: Despite improving
business conditions
most salary increases over the next six
months are likely to be moderate, according to a survey conducted by global recruitment firm Michael Page
International.
The Michael Page Salary and Employment Forecast, which incorporates the responses of over 800 senior
managers from Australia’s corporate sector, reveals that 40 per cent of the white collar employers surveyed
will be increasing salaries in the second half of 2010. However, nearly two-thirds of the
planned salary
increases will be between 2 per cent and 4 per cent.
“Managing talent during an economic recovery is a delicate balancing act. While most employers are aware
they risk losing top performers if salaries are not increased, they have to consider their capacity to absorb
escalating payroll costs during the early stages of an upturn,” said Phillip Guest, Regional Managing Director
of Michael Page Australia and New Zealand.
Over the next six months, the majority of salary reviews will occur in support functions such as accounting,
human resources, marketing and technology.
“Staff retention will become more of an issue as employment opportunities increase over the next 12 months.
Forward thinking companies will take the time to identify and reward people with the skills needed to drive
their business forward,” Mr Guest said.
“Some employees will not be satisfied with the pay rises on offer over coming months. Others are already
considering new career opportunities in an improving labour market. Employers need to respond to these
issues with targeted investment in the skills that align most closely with their business strategy,” Mr Guest
said.
Ends
Michael Page International is a leading professional recruitment consultancy specialising in the recruitment of permanent, contract and
temporary positions on behalf of the world’s top employers. The Group operates through 136 offices in 28 countries worldwide.
For media inquiries:
Jason Hemens
Corporate Communications Manager, Asia Pacific
Phone: 02 8292 2094
Email: jasonhemens@michaelpage.com.au
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