The COVID-19 pandemic of 2020/21 was unprecedented in modern times, reaching every corner of the globe. The social and economic impacts were without parallel. What sets this crisis apart from previous global crises is that, fundamentally, the COVID‐19 crisis was a human one, making human resource (HR) leaders central in enabling organisations to manage through and ultimately exit the crisis successfully.
The pandemic created an unprecedented opportunity to elevate the status of the HR function in many organisations where it has previously struggled to gain status and to reinforce the influence of the function in those where it already enjoys legitimacy.
Our 2021 salary and benefits survey has revealed useful insights into HR and HSE professionals remuneration including salaries, bonuses and benefits, as well as levels of job satisfaction and employee tenure. The survey has also exposed some interesting trends including flexibility, the changing workplace landscape and the impact of wage stagnation on employee loyalty and retention.
By means of introducing this report, below is a short extract of some of the key insights
1. Salary Reviews
In 2020, 43% of organisations ran a salary review and the same number did not. That leaves 14% unsure. From those who did have a salary review, 50% of salaries
remained the same and 40% had an increase up to 5%. There was only 8% who had an increase of 5% or more.
For 2021, 59% said their organisation will run a salary review; 13% won’t and 28% were unsure. For those who know their salary will be reviewed, 69% expect a small increase, 17% no increase and 5% a large increase. 9% are unsure.
45% of respondents are thinking about a change in jobs in the next 6-12 months. This may be due to a contract or project ending, internal promotion or an external move. But either way people will be on the move. 32% said no and 22% were unsure. An increase in salary was still the most important aspect when changing jobs at 33% closely followed by professional development and growth opportunities at 24% and flexibility at 20%.
We invite you to download the complete report by filling in the form below, or for an in-depth discussion on any of the material in the report please contact one of our Frazer Jones consultants today.