Is 25 Cents Per Hour A Good Raise In Customer Service

Many professionals are prepare for pay increases of up to 25 per cent in the first quarter of 2022 as companies fight to hold on to their staff post-obit the Covid-xix crisis, according to a new report.

Professional services firms are planning to increase their budget for pay rises by 10-15 per cent this year, which would exist the largest increase seen since 2008, according to findings of a salary guide from the Robert Walters recruitment house.

Whilst the biggest pay rises will be reserved for new starters, at least 5 per cent of the increase in payroll budgets will be reserved for existing employees in 2022. The pay rises are expected to be for workers across all seniority levels.

Most half of companies (43 per cent) surveyed said they are planning salary increases for current employees to keep pace with higher pay they have awarded new hires. Over one-half (59 per cent) of workers said they are expecting a pay rising this year following a two-yr freeze.

Furthermore, two-thirds said they will leave their task if they are not rewarded fairly, with 82 per cent feeling "very confident" about job opportunities in their sector this yr.

In the past year wages for new starters grew by 6-8 per cent, and for those professionals who moved into "hero industries" such as technology or healthcare, saw pay hikes as high every bit 15-20 per cent.

Suzanne Feeney, country manager for Robert Walters Ireland, said: "Wage increases above marketplace value for in-demand hires was a recurring theme of the past year. Equally a event nosotros saw new starter salaries outstrip those of existing employees.

"The consequences of this volition issue in wage compression – where existing employees feel their boosted feel at the company over new starters is no longer valued or has not grown in value over the past ii years.

"Looking at the year ahead we will run across more than companies raise the pay of their existing employees to sit down in line with new starter salaries."

Values

In addition, good piece of work-life balance (65 per cent), fantabulous compensation and benefits (53 per cent), and job security (40 per cent) are the top three values of a post-pandemic professional.

Flexi-hours (29 per cent), remote working (22 per cent), and holiday entitlement (20 per cent) all rank much lower in importance for professionals.

More than a tertiary of businesses (39 per cent) said they're increasing pay to keep up with ascension inflation.

"Many companies decided on their 2022 raises a few months ago before we had a articulate moving-picture show of how much rising wages for new hires, as well as inflation, would impact the labour market," said Ms Feeney.

"There is picayune point in companies offering a pay ascension as a morale booster if the bear on of that increment isn't really felt in the existent earth – and and then nosotros are increasingly seeing more companies consider the price of living when determining the average pay rise.

"Businesses will have to determine how much to enhance their salaries to keep their employees, whilst besides deciding how much to pass on those costs to their clients and consumers."

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Source: https://www.irishtimes.com/business/professionals-set-for-pay-rises-of-up-to-25-in-coming-months-1.4789796

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