Salary and Benefits Review 2023

Every year, Tiger Recruitment releases a Salary and Benefits Review. This year we collated the data from a survey of 500 employees.

What’s included in the report?

The report combines data from survey respondents with Tiger’s wealth of in-house expertise, to share detailed market insights, salary benchmarks and trending benefits, designed to optimise your employment offering and secure the best talent. We surveyed professionals working across business support, private, finance and accounting, HR, digital and hospitality roles. 

How the report can benefit your business

A high quality, independent salary survey is a key component in your compensation strategy and will help you stay on target to attract and retain the best talent in your industry.

Having access to a comprehensive data set ensures that your HR team stay abreast of changes in the employment market and has a thorough understanding of pay rates and trends, helping you to maintain your competitive position.

The report provides valuable statistical insights into the markets in which your business competes for talent and serves as a benchmarking tool enabling your business to make informed remuneration decisions.

Referring to credible survey data can also help to increase employee motivation as it will be clear that diligent decisions have been made around compensation.

Highlights of this year’s salary survey

The results of this year’s survey highlight what employees and jobseekers want and to what extent they feel their expectations are being met.

A selection of the major findings in this year’s review include:

• Flexible working continues to be well received by employees, with 73% being happy with the flexible working options offered at work. Over 70% of jobseekers agree that employers should be prepared to pay higher salaries if they expect people to work from the office full-time.
• Employees wanting a salary increase was the most popular reason for leaving a job, at 21%, closely followed by lack of progression at 19.4%. This demonstrates how a move towards greater visibility in career development and salary benchmarking will help towards employee retention from the outset. With salary holding great significance in employee retention and acquisition, interestingly, 55% of employees said their salary hadn’t increased in the last 12 months.
• Over a third (33.6%) say that salary was the most important factor in attracting them to their current role, closely followed by job security at 29.2%. Despite being risk averse, jobseekers have no qualms when it comes to moving for the right pay cheque, with over half (50.2%) of people making it their top priority when looking for their next position.

Request your copy of the Salary and Benefits Review here.

We hope you find the document useful. Should you have any questions, please don’t hesitate to get in touch.

Author Jane Leese Tiger Recruitment Team