Australia – Nearly half of skilled professionals plan to ask for a pay rise, but employers plan to keep salaries restrained

Almost half, or 48%, of skilled professionals in Australia say they intend to ask for a pay rise in their next review according to a report from Hays.

Hays’ report showed that, in addition to the 48% who plan to ask for a pay rise, another 24% are considering asking for one. Survey data from Hays showed that in their last review 18% of employees successfully asked for a pay rise and 16% did so but were unsuccessful.

“After years of sedate salary increases, skilled professionals certainly believe the time is ripe for wage growth,” Nick Deligiannis, Managing Director of Hays in Australia & New Zealand, said. “2017 was a phenomenal year for jobs growth in Australia and 2018 has so far seen continued labour market strength. Permanent and temporary hiring intentions for the year ahead suggest further employment gains. Employees see this as a good time to ask their boss for a pay rise.”

Meanwhile, 65% of employers will give skilled professionals a pay rise of less than 3% in their next review and 11% will not increase salaries at all. Furthermore, 18% of employers will give staff an increase of 3 to 6%, and 6% of employers will increase salaries by 6% or more.

Most Aussie employees (67%) say a salary increase is now their number one career priority.

Deligiannis commented, “Already turnover has risen in 32% of organisations and of the 46% of professionals who intend to look for a new job in the next 12 months, 48% cite an uncompetitive salary as a motivating factor.”

Source: http://www2.staffingindustry.com/row/Editorial/Daily-News/Australia-Nearly-half-of-skilled-professionals-plan-to-ask-for-a-pay-rise-but-employers-plan-to-keep-salaries-restrained-46211