Hays report highlights value of salary increases

OZ

A rift between mining employees and employers in response to salary increases has emerged, according to Hays’ salary guide for the 2021-22 financial year.

Hays found that 57 per cent of mining employees will have increased salaries in their next review.

However, Hays stated the increase is less than employees expect, with 42 per cent to have an increase of up to 3 per cent.

According to the report, 65 per cent of mining professionals said a raise of more than 3 per cent would reflect their performance.

Hays Mining regional director Chris Kent said the value of salary increases is causing an issue with employees and their bosses.

“The value of salary increases is driving a wedge between employers and employees,” he said.

“On the one hand, we have over half of mining employers intending to increase salaries in the year ahead, which is a remarkable sign of the confidence employers exhibit today. On the other, professionals say the value of these increases is far less than they deserve.

“This is creating a gap between what employers will offer and employees say they are worth. This divide must be managed sensitively if employers are to retain staff and attract new talent in short supply.”

Fifteen per cent of workers will be awarded increases of more than 3 per cent, Hays found.

Kent said one strategy to address the divide between workers and their bosses is to invest in training, development and career progression of staff.

“After a year in which many skilled professionals put career plans on hold, they are focusing once more on their long-term goals,” he said.

“As our data shows, learning and developing new skills is now more important than a pay rise.

“A lack of promotional opportunities is also the primary factor driving professionals into the jobs market today.

“This makes re-investing in career-progression pathways and staff development a sensible strategy for the year ahead.”

Hays is a global professional recruiting group, with its salary guide suggesting Australia’s recruitment market has almost recovered to levels seen prior to the pandemic.

Seventy-eight per cent of mining professionals are seeking a new job, plan to look or are open to new jobs in the next 12 months due to a lack of promotion, job security and poor management style or workplace culture.

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