The Australian Institute of Management’s (AIM) National Salary Survey reported a national average pay increase of 4 per cent for employees of large companies. Top earners were in West Australia, where pay increases averaged 4.7 percent, according to an article in Perth Now.
According to the large companies surveyed, the cash will keep flowing with a predicted increase of 3.8 percent in the next 12 months.
The survey of 506 companies across Australia indicated that attracting and retaining staff, while containing wages, was a key challenge for Australian organisations over the next 12 months.
AIM WA deputy executive director Shaun Ridley told Perth Now that “for the past 2 years, it has really been an employer’s market, but that is changing. Many staff who stayed put during the downturn are now on the hunt for new opportunities and bigger pay packets. And yes, many employers will have big cost pressures, so savvier employers are seeking creative ways to motivate people, without offering big salary hikes.”