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74% of UK workers expect a 5.6% salary increase this year

New salary guide reveals earning expectations of London candidates

A recent Marketing and Digital Salary guide, tailored to London professionals, reveals over half of UK workers believe they are underpaid for their current job, while 74% expect a 5.6% salary increase this year – highlighting the reality of pay expectations compared to inflation and the rising cost of living.

The 2023 London Salary Guide, compiled by recruitment agency, Forward Role, collated salary data and job search trends across different areas of London to deliver a comprehensive industry overview, providing valuable insight to employers and candidates to benchmark salaries.

Out of all the digital marketing channels, PPC has the most skills shortages due to fewer graduates joining the space during the pandemic. Many brands and businesses have come to prioritise customer relationship management and email marketing as increasingly desired skills. Agencies still continue to offer reduced salaries compared to the client side and therefore 80% of candidates would prefer to work on the client side.

Due to skills and talent shortages, the industry has become more competitive – meaning counter-offers have become the norm with some businesses presenting counter-offers of up to £17k.

In 2023, benefits are an essential factor to jobseekers with hybrid working being the most important benefit to employees.

The complete guide can be downloaded here. 

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Over a third of job ads have hidden salaries

Marketing and sales ads most likely to hide salary info

A recent study has revealed that more than a third of job ads (35%) do not disclose the salary on offer. Phrases such as “competitive salary” or “depending on experience are common.

Salary is key in helping a candidate decide whether to apply for or take a job. Despite this, an analysis of over 6,000 job listings across roles in Finance, Sales, HR, IT, Marketing, and Operations found that 2,130 ads had hidden salary info.

The study by HR and leadership publication People Managing People showed that ads for marketing roles are least likely to disclose salaries (41%), followed by sales and operations roles (35%). Ads for IT roles were more transparent, at 27%, as were ads for HR professional roles, at 29%, failing to disclose salary details.

In terms of roles, the highest rates of salary non-disclosure were found in job ads for senior and C-suite positions:

  • Chief Technology Officer (81%)
  • Chief Marketing Officer (71%)
  • Sales Director (59%)
  • Operations Director (58%)

The research also found that job ads in the UK were 57% more likely to have undisclosed salaries for roles than in the U.S. Interestingly, IT roles in the UK were more likely to have salary information than in the U.S. Of the roles studied, 66% had no salary disclosed, followed by finance roles (61%) and operations (56%).

Why are salaries hidden? According to Finn Bartram, Editor at People Managing People, it offers businesses more negotiating power to agree on a salary in the later stages of the recruitment process once they understand the candidate’s expectations and circumstances.

Hidden salaries also provide a competitive advantage in that they stop other similar businesses from knowing how much they are offering for a role and outbidding them to attract talent.

Employers also say that publicising salary information causes resentment and results in demands for pay rises from their existing workforce if their salary doesn’t fairly compare to what is offered to recruits.

It may also create resentment when candidates accept a job offer if they know they have been given a salary at the lower end of the advertised pay scale.

The hidden salary approach comes at a risk. In the current job market, which is skewed in the candidate’s favour, vacancies are taking longer to fill, and gaps are widening. This means employers are at risk of missing out on talent or narrowing the type of applications they receive.

Research has shown that the pay gap – for women and minorities – stems from the ‘ask gap’ – the difference in what different groups expect when it comes to salary and how likely they are to get a raise if they ask for one. According to a recent YouGov survey, of the 40% of adults who asked for a pay rise, just over a quarter secured one.

Pay transparency goes a long way to building trust within a workforce, meaning lower turnover rates and greater performance gains. Societal pressures are growing to build transparency, promote truth, and close inequalities, so organisations opting for hidden salaries may need to rethink their strategies.

Christine Brotherston, HR and Operations Director at TALiNT Partners commented: “We know candidates are more likely to apply for jobs where an indicative salary is given. Employers need to make compensation discussions part of the hiring process from the start to be clear about the candidates circumstances and to communicate what criteria will inform their final offer. Hiring managers need to be upfront with existing employees and be prepared to discuss and justify. Existing employees will usually understand there will be a difference, too wide a gap though will always need to be looked at, otherwise there will just be another vacancy to fill soon.

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Talent Tech Stars crowned

First in-person TIARA ceremony of 2021 

Winners of the 2021 TIARA Talent Tech Star Awards were revealed at a gala lunch for 120 guests at the Kings Fund in London today, attended by CEOs and founders of some of the UK’s leading HR and Recruitment Technology companies.

“As we emerge to a post-pandemic economy, business model transformation is a given,” said Ken Brotherston, MD of TALiNT Partners. “This, combined with an acute shortage of talent across every area of the job market, including recruitment itself, has created a perfect storm for HR Tech to show its value.” 

“The 35 Talent Tech Stars shortlisted this year are solving the talent challenges that employers and recruiters must address in a constantly evolving market,” added co-host Alex Evans, Programme Director of TALiNT Partners. “The winners demonstrated the value and impact of their solutions to a respected panel of judges, making a TIARA Talent Tech Star Award a powerful endorsement.” 

The judging process for the TIARA Talent Tech Star Awards is designed around the expectations of buyers and investors, based on key performance metrics, case studies and testimonials. An impressive and influential panel of judges from companies including LinkedIn, ManpowerGroup, SThree, Thames Water, AMS and the FCSA was chaired by Martin McCourt, former Dyson CEO and now Chairman and Non-Executive Director of companies including Weber, HeadBox, Lightfoot, FreeFlow Technologies and The learning Curve Group. 

“The 2021 Talent Tech Star Award finalists represent challengers, disruptors and transformers across the spectrum of business growth, from high potential, early-stage start-ups to scaling SMEs,” said Martin McCourt. “What they all have in common is great focus, execution, and ambition. They have also validated game-changing innovation and excellent customer service with some solid case studies and testimonials. 

“It was difficult for the judges to choose winners from such strong shortlists and even harder to choose a Champion of Champions from 13 very strong contenders. It has to be exemplary to inspire others to aspire to greater ambition and impact. That’s what transforms industries.” 

Odro was the biggest winner this year, winning the Talent Tech Customer Service Award, Leader of the Year for CEO Ryan McCabe, and ultimately crowned TIARA Champion of Champions to top a game-changing year for the video tech specialist. 

“It has been a great year for Odro, with big client wins including Hays and a £5m growth investment from BGF,” said Alex Evans. “Winner of this year’s Customer Service and Leader of the Year awards, Odro has demonstrated excellence, leadership, and growth to make it a worthy Champion of Champions for 2021.” 

The TIARA 2021 Talent Tech Star Awards campaign was supported by partners Deloitte, Marriott Harrison and Optima Corporate Finance. 

“Optima Corporate Finance is delighted to sponsor the Talent Tech Leader of the Year Award,” said Optima founder Philip Ellis. “This year more than ever, strong leadership was required as businesses had to combine the implementation of their vision with the challenges of lockdown. All of this year’s finalists demonstrated strong leadership in adapting, transforming and driving growth.”

“Marriott Harrison is delighted to be part of the TIARA Talent Tech Star Awards and to recognise the significant value HR and RecTech solutions bring to the recruitment industry and the wider economy,” said Chris Mooney, Partner at Marriott Harrison. “We commend the innovation and impact shown by this year’s finalists for Candidate Experience Solution of the Year.”

“Achieving scale in a challenging economy is doubly impressive and finalists for this year’s award have adapted and transformed to build strong foundations for growth,” said Kiren Asad, Director, FA – Advisory Corporate Finance, Deloitte LLP. “Deloitte is proud to partner with TALiNT Partners and the TIARA Talent Tech Star Awards to recognise and support scale in HR Tech.” 

The full list of TIARA Talent Tech Star Award winners and highly commended finalists is as follows: 

The Workforce Solution of the Year 

  • Winner: Pixid 
  • Highly Commended: TalismanTech 

The Contractor Solution of the Year 

  • Winner: My Digital 
  • Highly Commended: Parasol Group 

The Candidate Experience Solution of the Year 

  • Winner: 360 Resourcing Solutions 
  • Highly Commended: TribePad 

The Recruitment Marketing Solution of the Year 

  • Winner: Paiger 
  • Highly Commended: TalismanTech 

The D&I Solution of the Year 

  • Winner: Arctic Shores 
  • Highly Commended: Get Optimal 

The Compliance Solution of the Year 

  • Winner: My Digital 
  • Highly Commended: People Group 

The Onboarding Solution of the Year 

  • Winner: CA3 & Eli Onboarding 
  • Highly Commended: LearnAmp 

The Learning Solution of the Year 

  • Winner: Clear Review 
  • Highly Commended: Hoxo Media 

The Talent Tech Customer Service Award 

  • Winner: Odro 
  • Highly Commended: Clear Review 

The Talent Tech Scale Up Award 

  • Winner: Sonovate
  • Highly Commended: Paiger 

The Talent Tech Innovation Award 

  • Winner: Mercury xRM 
  • Highly Commended: Idibu 

The Best Talent Tech Company to Work For  

  • Winner: Firefish Software 
  • Highly Commended: TribePad 

The Optima Talent Tech Leader of the Year 

  • Winner: Ryan McCabe, CEO, Odro 

The Talent Tech Champion of Champions 

  • Winner: Odro 

Register for updates on the TIARA 2022 Talent Tech Star Awards campaign at https://talenttech.tiara.talint.co.uk/register-for-2022-updates/ 

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Marketing tops employee perk rankings

As employers explore new ways of attracting and retaining their talent, how important are perks, which have the most impact, and who gets the most?

A survey of 2,011 UK employees, undertaken by Censuswide in July 2021 for perk specialist Cartwright & Butler, sought to rank the most giving industries in the UK which offer the biggest perks for employees.

Its research found that marketing provides the most valuable perks, at £1,179.56 per person, on average across the year closely followed by the financial services sector (£1,091.60 per employee), and construction (£967.39).

At the other end of the scale is the third sector, which spends an average of £332.62 per person per year, with many people volunteering for charities in their spare time.

The utilities and hospitality industries both make up the bottom three of the least giving sectors – although there are several other industries that also spend less than £500 worth of perks on each employee over the year – namely retail, education, and agriculture.

Gen Z employees (those aged between 16 and 24) receive the highest value of perks on average across all industries, at around £900.08 each year. Across a range of industries, flexible working hours was by far the most popular, with 28% of brands offering this. Other popular perks of the job include employee discounts, and free food and drink, with 24% and 20% of businesses offering these, respectively.

A spokesperson for Cartwright & Butler commented: “Everything from birthday days off to free gym membership – and even something as simple as flexible working hours – are all taken into account when a candidate is deciding whether to accept a job offer. If you want to boost current workers’ morale and make them feel appreciated, then show them you care, by offering them perks that they can enjoy both in and out of work.”

Commenting on perks for marketing, particularly in recruitment where talent is in higher demand as the industry competes for attention post-pandemic, Glenn Southam, Founder of TwoEnds and The Lonely Marketers, said: “For many businesses throughout 2020, and into early 2021, day-to-day business in terms of working with customers and clients just simply stopped. This created an opportunity for marketers to come to the fore and prove their worth and impact in the workplace. In the Lonely Marketers community, made up of 150+ marketers working in recruitment, we saw countless examples of creativity to build brand awareness and add value in the most challenging of times.

“This has paid dividends as we enter a highly competitive job market with marketing being seen as integral to company growth beyond the ‘making things look nice’ stereotype. As a result, more and more marketers are now being afforded the perks, rewards and financial remuneration that were in many cases only reserved for the sales teams.”

Photo courtesy of Canva.com

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HR & Marketing top post-Covid pay rise list

Finance, farming and transport hit hardest by pay cuts, according to Randstad research

Randstad’s latest analysis of the salaries of over 9,000 UK and Ireland workers, and data from 700 placed jobs, highlights the roles, industries, and demographics with the highest salaries or biggest drops over the last year.

The losers

According to the 2021 Randstad salary guide, Irish finance professionals were hit hardest, with part qualified group accountant seeing salary decline of -8%, followed by finance manager (-6%) and part qualified management accountant (-6%). In terms of sector, those working in agriculture and transportation saw the largest decreases in salary for new roles – reduced by 44% and 43% respectively. The East of England saw the biggest fall in remuneration as a region, with 28% changing jobs with a pay cut compared to just 14% in London.

The older demographic saw the biggest decline, with nearly half (48%) of 55-64-year-olds surveyed reported a decrease in their salary.

The winners

Demand for developers and specialist tech roles pushed their salaries up by 9%, according to Randstad’s Employer Brand Research (REBR), with the East Midlands the best region to find qualified tech workers. Despite the tech boom in the East Midlands, the West saw higher than average vacancies (up 11% overall) while the East fell to 2% below average.

HR assistant salaries rose by 6% in the North East and by an average of 4.5% across the North West, with salaries for other HR-related roles rising by nearly 3% on average across the country. London saw the biggest rise, with 15% of Londoners, across all sectors, received a pay increase of between £2,000 and £5,000 – and a further 15% reporting a pay rise of over £30,000 when switching jobs.

The three highest ranked roles by salary rise were: Software Developer (9%) followed by Marketing Assistant (7%) and HR Manager (5%).

Rise of the marketing assistants

With firms focused on competition, differentiation and positioning themselves for the upturn, marketing is in higher demand. Pay rises for marketing assistant roles now vary from a 1.5% increase to 13% in Yorkshire, to over 18% for newly qualified marketers based in the North-West of England. All marketing function roles in the UK have seen an average 5% increase on 2020 figures.

“With organisations over the past 18 months seeing a long list of changes — from new privacy policies, the accelerated digitalisation of brands, altered consumer behaviour due to the pandemic — marketers are working harder than ever, essentially, being asked to do more and with less,” said Adrian Smith, Senior Director of Operations, Randstad. “Acknowledging the importance of the central marketing function and the role it plays in supporting business objectives, the more junior marketers are getting the recognition they deserve.”

Not all about salaries

A new study by borofree highlights The importance of company benefits to attract and retain talent during a major talent shortage across all sectors has been highlighted in a new study from Borofree, a UK salary advance start-up that helps people avoid debt by providing free access to a proportion of their next pay cheque in advance.

The online survey of 2009 employed adults, conducted by Censuswide between 28th May – 2nd June 2021, found that 68% believe company benefits and perks have an important role in driving staff recruitment and retention. However, one in five of UK employees have had their packages reduced or cut completely in the last 12 months – including 28% of 16-24 year olds and 29% of those aged 25-34 years. As a result, 15% of 16-24 year old’s have considered leaving their job.

The study claims that employers are too focused on the short term and not enough on long term perks, with 25% of employees stating that they don’t think the perks being offered are relevant or tailored to them – such as fertility treatments or sailing trips – and 15% revealing they have never received any perks from the company they currently work for.

Benefits packages that provide financial wellbeing support are in highest demand, with pensions the most popular for a third of respondents but 18% want the option of being paid weekly and 14% want an interest free loan. “Too many companies approach company benefits as a PR exercise, failing to consider what’s going to make a real difference to their employees workplace wellbeing and happiness,” said Minck Hermans, CEO and Co-founder at borofree. “Evidently, the fads and outrageous corporate packages are no longer ticking the boxes for staff, who are looking for perks that are both relevant and useful for them.”

Photo courtesy of Canva.com

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How will Brexit affect recruitment?

Danny Brooks, CEO of VHR

With just six months to go until the UK leaves the European Union, and no deal yet in place, 61% of employers are worried about leaving the EU. How will Brexit affect UK recruitment?

How will Brexit affect hiring candidates?

Although 25% of UK businesses currently employ staff from the EU, an August 2018 survey reveals that over 50% UK business leaders would be put off employing someone from the EU after Brexit changes the UK’s immigration laws.

Recruiting EU nationals currently working in the UK – In July the Home Office published the new mandatory registration scheme for EU nationals. After Brexit occurs on 29th March 2019, all 3.8 million EU nationals living in the UK and EU nationals wanting to enter the UK will need to register for ‘settled status’ to continue to work and live in the UK. Settled status, with its supporting technology still in the testing phase, aims to protect the rights and jobs of EU nationals currently working in the UK, but what about recruiting EU nationals after Brexit?

Recruiting EU nationals after Brexit – From 1st July 2021, EU citizens and any family members living with them must hold or have applied for UK immigration status to legally work in the UK. This new status could present a challenge for hiring managers and recruiters, who may have to adapt candidate selection processes to comply with new editions of immigration law in the next three years. The new status will require UK businesses to adopt a longer-term talent attraction strategy that either focuses on existing UK-based talent pools or accommodates the required time and resources to bring EU nationals to work in the UK for the first time.

Increased skills shortages – The effects of Brexit could be further exacerbated by existing UK skills shortages across industries. In Q4 2017, 22% of UK engineering business leaders and 42% of UK aviation industry leaders identified a labour shortage as the most urgent challenge they will face in the next five years. Global demand for aviation skills alone is set to overtake supply by 2027, and with skilled candidates already under-represented amongst a rapidly reducing workforce, skills shortages will become an increasingly dominant UK business issue.

Increased need for marketing and talent attraction – In May 2018, LinkedIn reported that 96% of hiring strategies had already been impacted by Brexit. The same study found that 44% of recruiters believe that working in the UK is becoming a less attractive prospect to EU citizens, with 39% seeing international candidates who are reluctant to move to London.

How can we mitigate against the effects of Brexit on recruitment?

Retain existing workforces – To protect against the possibility of losing employees who are EU citizens, business leaders can ensure employees are aware of their eligibility to apply for British citizenship or settled status before Britain leaves the EU and communicate the specific details and urgency of registering for settled status.

Build UK-based skills from wider talent pools – As 67% of UK graduates say that they now work in a role completely unrelated to their degree and 1 in 3 graduates are unhappy in their current job, fewer young people than ever are getting into apprenticeships and joining industries such as manufacturing, engineering, aerospace and automotive. VHR’s divisional director and aviation recruitment specialist, Ryan Abbot, advises on the UK skills shortage, “In a globally connected world where students are bombarded with choices, we need to shout louder to reach potential talent who are unaware of what our industries can offer. Business leaders and recruiters can partner with colleges and schools to directly engage with students and show them the variety of successful careers open to them across UK industries.”

Outsource from non-EU countries – The world is rich with talent just waiting to be found. Depending on local labour laws and specific remits, business leaders could turn their recruitment strategies towards candidates based outside the EU and secure the expat workers needed for business growth and success. VHR ethically recruits skilled and experienced candidates across 45 countries and four continents – find out more.

Picture courtesy of Pixabay

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