More money – who’s kidding who?

2 August 2007

More money – who’s kidding who?

One in four New Zealanders do not expect a salary increase this year, according to a survey by specialist recruiter Hays.

Of over 1,000 people who completed the survey, 25.6% said they did not expect an increase. 43.2% expect a salary increase of between 3 and 10% while 31.2% said they expect a salary increase above 10%.

Yet a separate survey of 1,700 employers found just 2% of employers intend to increase salaries above 10% when they next review. Instead, the majority of employers (69%) intend to increase salaries by between 3 to 6%.

“There is a clear disparity between what employees expect and what employers intend to offer,” said Jason Walker, regional director of Hays in New Zealand. “While one in three employees expect a salary increase over 10%, only 2% of employers say they intend to increase salaries by this much.

“The salary increase you receive can also be impacted by the industry you are in. For example, our annual Hays Salary Survey shows that the biggest increases to date have occurred in advertising/media, professional services, construction, property, engineering and resources and mining. Looking forward, IT employers in particular expect to increase salaries when they next review.

“As far as retention goes, there is much research to suggest non-cash benefits such as flexibility around work practices, how valued staff feel, how they are encouraged to develop and how their contribution is recognised are just as important as salary,” he said.

1011 people completed the online surveyed. The survey question asked, “Are you expecting a salary increase this year?”

The annual Hays Salary Survey is now available and is a comprehensive guide to hundreds of job roles. For more information on salary statistics and trends visit www.hays-hps.co.nz/salary

ENDS

© Scoop Media