It comes as no surprise to many employers that salaries are on the increase.
Our research found that over half of Organisations are increasing salaries in 2022 and, the market is experiencing the highest average increase in years as can be seen in the graph.
The pressure is being most felt by smaller employers with higher than average increases (6.6%) as all businesses struggle to retain staff with considerably higher employee turnover than expected as highlighted by our research:
- Oct 2021 – expected employee turnover of 10% for 2022.
- March 2022 – expected turnover of 18.2% for 2022.
For three in ten (31%) Organisations, the salary increases are unconditional, while 46% of businesses state increases are dependent on company affordability.
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