Employee expectations on salary increases and what employers are prepared to give, don’t exactly line up, according to recruitment firm, Hays Information Technology.
In the survey of 1142 Australians, 32 per cent said they expect their salary to increase less than three per cent while 33 per cent expect an increase between three and six per cent, and 35 per cent expect an increase above six per cent.
But employer expectations are not in alignment, according to the Hays Salary Guide.
About 45 percent of IT and Telecommunications employers intend to increase salaries in their next review by between three and six percent, while 10 per cent will offer increases above six percent. But 37 per cent intend to increase salaries by less than three per cent, the survey indicated.
“In today’s market many employees have higher expectations than their employers when it comes to their next pay rise,” Hays Information Technology regional director, Peter Noblet, said. “But employers won’t be swayed by these expectations. Instead of offering widespread salary increases, many employers are choosing to review employee benefits to help them attract and retain staff. They’re also quick to discuss potential career paths with their high achievers and offer training and development.”
Work/life balance improvements are also being used as alternatives to large salary increases.
The survey was conducted across Asia Pacific. The most positive salary expectations exist in Hong Kong, where 45 per cent of people surveyed expect an increase above six per cent. This is followed by Singapore (41 per cent), Australia (35 per cent) and New Zealand (26 per cent).