A divide in salary expectation is “driving a wedge” between employers and employees. According to the Financial report 2021-22 Hays Salary Guide, more employees will receive a pay rise this year
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Jasmine Giuliani ON 26 May 2021 3 min read
The FY 2021-22 Hays Salary Guide was released today. The guide highlights a chasm between employers and employees, with 67 percent of employers planning to increase salaries in their next review, but the amount is less than the employees surveyed feel they are worth.
The findings are based on a survey of close to 3,500 organisations, representing over 8.8 million employees. Several indicators in the guide suggest Australia’s recruitment market has almost recovered to pre-pandemic levels.
According to the guide, only 12 percent of the employees planning to raise salaries will award an increase of 3 percent and above. Instead, over half (55 percent) intend to raise salaries at the lower level of 3 percent or below.
Lawyers in line for generous pay rises
Tess Bennett
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Lawyers are set to receive generous pay increases this year, as skills shortages across the broader professional services sector are likely to accelerate wages growth faster than employers had planned for.
After pausing salary increases in 2020, law, accounting, property and consultancy firms are bringing forward mid-year salary reviews and making aggressive counter offers to retain workers.
Louise Hvala says salary increases are being driven by a talent shortage and demand for the same skills.
A survey by recruitment firm Hays found that Australia’s recruitment market had almost recovered to pre-pandemic levels and the supply and demand imbalance had tipped in favour of skilled professionals. The trend had been exacerbated by international border closures.
Recruitment company Hays said professionals in some sectors in for a pay treat
Its salary guide for 2021-22 predicted sectors in for 3 per cent plus salary rises
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