A new survey has revealed that Australian workers are increasingly demanding higher salaries to cope with soaring living costs. The Hays Salary Guide highlights a growing gap between employee expectations and employer offerings, sparking concerns over talent retention and recruitment.
Key Findings from the Hays Salary Guide
The report, based on responses from thousands of professionals, found that:
- 71% of employees believe their pay does not reflect their current workload.
- 65% of workers are considering changing jobs for better pay.
- Only 28% of employers plan to offer above-inflation salary increases.
Why Are Workers Pushing for Higher Wages?
With inflation driving up the cost of essentials like housing, groceries, and utilities, many Australians feel financially strained. "Employees are no longer willing to accept stagnant wages while their expenses rise," said a Hays spokesperson.
Industries facing the highest salary pressure include:
- Technology – High demand for skilled IT professionals.
- Healthcare – Chronic staff shortages pushing wages up.
- Construction – Labour shortages driving competitive salaries.
What This Means for Employers
Companies struggling to retain staff may need to rethink their compensation strategies. Experts suggest:
- Offering flexible work arrangements.
- Providing bonuses or performance incentives.
- Enhancing non-financial benefits like career development.
Failure to address salary concerns could lead to a mass exodus of talent, warns the report.
