News Story
Australian jobseekers say salaries too low
40 per cent of jobseekers believe the salaries on offer are below market rate.
According to a survey by recruiting experts Hays, 31 per cent of jobseekers are happy with the salaries on offer, while 29 per cent believe salaries are low but employers are willing to negotiate. 40 per cent believe salaries are below market rate with no room to negotiate.
“As candidates see that more opportunities are available and confidence in the market grows, they are adjusting their salary expectations,” says Darren Buchanan, Director of Hays.
“But this often prices them out of the market because employers are unlikely to increase salaries right now. In the majority of cases salaries remain unchanged. Often this is a response to internal pressures and a misunderstanding about the current market. In reality, there is not an abundance of quality candidates who can be secured for a salary below the level of skill sought.
“Already there are cases of employers being disappointed when their preferred candidate won’t move because of a lack of incentive.
“This is most obvious in the case of quality passive candidates. These are the candidates that employers are most interested in, but they will not move for a salary that is low. They will only move if it means increasing their salary. Employers are starting to enter into salary negotiations, but will only go so far.
“While widespread salary increases are not yet happening, employers are prepared to take other steps to help try to attract candidates. This includes improving benefits, offering bonus schemes, providing training and development and outlining clear career paths.
“Moving forward employers will need to re-examine salaries in order to secure the right candidates, particularly as counter offers rise in number,” Darren said.
The survey was conducted on hays.com.au and asked: When job searching have you found salaries to be:
Reasonable - I’m happy with the salaries on offer: 30.87%
A little low - But employers are willing to negotiate: 29.38%
Below market rate - With no room to negotiate: 39.75%
878 people completed the survey.
Hays, the world’s leading recruiting experts in qualified, professional and skilled people.
- Ends -
For further information please contact Lucy Sharp, Marketing Manager of Hays in Australia and New Zealand, on 02 8226 9885 or lucy.sharp@hays.com.au
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