Salary increases set for minimum rise - Hays
PERTH (miningweekly.com) – Employees in the mining sector would likely receive a less than 3% increase in salary this year, new research from recruiting expert Hays found.
In its 2014 Hays Salary Guide, the recruiting firm noted that some 64% of all employers, across its 2 500 employers surveyed, were planning a salary increase of less than 3% in their next review, while 57% of those reviewed gave an increase of less than 3% in their last review.
Some 80% of the mining companies surveyed also indicated that they would only increase salaries by less than 3%.
“Employers are attempting to do more with less,” said Hays MD for Australia and New Zealand Nick Deligiannis.
“They are still under pressure to manage costs and the ceiling for salary increases has lowered in many organisations across Australia.
“That’s not to say there aren’t some cases of more generous salary increases – many employers are still offering higher packages to attract and retain top talent. But in general, salary increases are more conservative than they have been in the past.”
The employee expectations mostly mirrored the employer predictions, with some 18% of the resource employees surveyed not expecting a salary increase at all, while 38% expected an increase of less than 3%.
A further 32% of the resource and mining employees surveyed expected a salary increase of between 3% and 6%, while 9% expected an increase of between 8% and 10%, and the remaining 3% an increase of more than 10%.
Despite the depressed salary increase expectations, Deligiannis pointed out that employers were now feeling more positive about hiring in 2014/15. He warned, however, that as recruitment activity increased, the threat of skills shortages would again loom.
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