Show me the money: employees
The gulf between what employees want and what employers are willing to give them is widening, according to specialist recruiter Hays.
Nearly one-third of insurance industry workers expect a pay rise of more than 10% after their next review, in stark contrast to the 2% of employers willing to upgrade pay packets by that amount.
“There is a clear disparity between what employees expect and what employers intend to offer,” Hays Insurance Director Nick Deligiannis said.
“As far as retention goes, there is much research to suggest non-cash benefits are just as important as salary – such as flexibility around work practices, how valued staff feel, how they are encouraged to develop and how their contribution is recognised.”
More than 1000 workers completed the online survey of salary expectations, and more than a quarter expect no salary increase. About 43% expect a nominal salary increase of 3-10%.
Most employers (69%) are prepared to consider a 3-6% raise.
Nearly one-third of insurance industry workers expect a pay rise of more than 10% after their next review, in stark contrast to the 2% of employers willing to upgrade pay packets by that amount.
“There is a clear disparity between what employees expect and what employers intend to offer,” Hays Insurance Director Nick Deligiannis said.
“As far as retention goes, there is much research to suggest non-cash benefits are just as important as salary – such as flexibility around work practices, how valued staff feel, how they are encouraged to develop and how their contribution is recognised.”
More than 1000 workers completed the online survey of salary expectations, and more than a quarter expect no salary increase. About 43% expect a nominal salary increase of 3-10%.
Most employers (69%) are prepared to consider a 3-6% raise.