First published in theHRDIRECTOR, November, 2021. Reproduced with permission. They are calling it the “ great resignation” but for employers, there is nothing great about it. Staff are leaving in record numbers, some off on new career adventures, others contemplating a less pressured life and the inevitable result is, the war for talent is even
Every year, Tiger Recruitment releases a Salary and Benefits Review. This year we collated the data from a survey of 1084 employees, cross-referenced with the candidates we met with the previous year.
What’s included in the report?
Within the report, you’ll find guidance on salary ranges and trends for roles within the business support, private, hospitality and HR sectors. Alongside this, we’ve outlined the benefits offered to employees this year and shared how employee priorities have changed following the pandemic. It also includes commentary from our management team.
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 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. This year, we surveyed 1084 employees, 80% of whom were based in the UK. These results were reinforced by the data gathered from interviewed candidates we met with in 2021 and are reflective of the impact that COVID-19 has had on our lives.
A selection of the major findings in this year’s review include:
- Employees are feeling optimistic about the future: 63% are expecting a pay rise in the year ahead (up from 49% last year) and of those, most are expecting a rise of 5% or more
- We are still seeing a lot of movement in the jobs market with 40% of employees planning to leave their role within the year
- More than half of employees (54%) say their employer hasn’t adapted their benefits in light of Covid. This is a slight improvement on last year (60% hadn’t adapted their benefits at that stage) but arguably not enough when you consider that almost half of people (47%) are working a hybrid model
- Salaries stayed the same for 49% of permanent staff in 2021 (down from 51%), while nearly 40% received a bonus (up 8% points from 2020)
- Post-pandemic hiring is up with a 92% increase in placed permanent roles compared to 2020
- Less than a third of people surveyed (30%) say their employer had made permanent changes to its remote working policy
- A third (33%) said their employers could do more to support their mental health and employers could better communicate
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.