A report from Hay Group has revealed two-thirds of employers are more willing to discuss pay rises with candidates than they were 12-months ago.
Hay Group’s 2015 Salary Guide shows employees are now also in a stronger position to negotiate their benefits packages, but less than 10% of HR directors feel the company should instigate those discussions.
The annual report from the global management consulting firm includes information on workplace issues and trends affecting the current hiring climate.
UK Managing Director, Robert Sheridan said those who show a willingness to learn are most likely to receive an increase. Other factors such as time since the last raise, competency and length of employment may also influence the employer’s decision.
He added: “The tables have turned in the job market”, and suggested top performing candidates can now demand higher salaries.
New candidates must wait before bringing up salary issues
It was revealed that only 21% job candidates think it’s appropriate to discuss salary at the initial application or first interview process. 46% of HR directors believe it is best to bring up salary issues in a second interview, while 28% prefer employees to wait until later stages in the process.
Sheridan predicts an inflationary wage environment in which companies will need to pay higher wages to attract and keep the top talent.
He said: “Recruiting and retaining the best talent may be the difference between good results and great ones.”
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