HR has experienced the highest wage growth over the past six months (+24.5%).
This is according to new data analysis from talent solutions consultancy Robert Half.
Businesses are increasing headcount to drive growth, and to manage hiring processes and onboarding they require talented, experienced HR teams who can make great hires at a fast pace.
The other three areas experiencing high wage growth over the past six months are:
- Marketing (+8.6%)
Including design, digital, marketing and communications, these professionals are responsible for increasing awareness, consideration and action, which is essential to driving customer growth and loyalty
- Business intelligence and data analytics (+7.7%)
Data analytics and business intelligence experts provide information that identifies focus areas for growth, providing insights that can support hiring and marketing strategies, and ensure that businesses are using their resources effectively
- Software development and testing (+7.2%)
Business leaders are preparing for increased customer volumes by working with DevOps professionals to strengthen and overhaul systems. Ultimately, organisations need sales of their products and services, which means they must be able to handle heightened demand
Businesses are hitting the ground running with revised growth strategies that include increasing headcount, driving customer growth and supporting demand.
Growth prospects
With nearly three-quarters (73%) of senior business leaders reporting that they are more confident in their growth prospects for the next 12 months than the 12 months prior, many are investing in talent that can enhance growth strategies, pushing up demand and subsequently salaries in some sectors.
The research shows that professionals with the skills to support short-term growth are the big winners in the immediate aftermath of the pandemic.
Matt Weston, Senior Managing Director for the UK, Ireland, UAE and BeNeLux, said: “Having been amongst the first to be cut during the pandemic, HR and marketing roles are now being created and backfilled at incredible pace, creating voracious demand with limited supply.
“These roles, along with analysis and DevOps roles, are on the front-line of business growth, supporting demand generation and helping to manage increased customer demand. However, the immediacy of the need is likely shielding more consistent demand in compliance and digital transformational roles.”
The sector average increase was 4.8 percent over the past six months, reflecting more consistent demand for skilled tech talent.
While businesses may be focusing on short-term growth, long-term transformation projects designed to extend digital capabilities and futureproof organisations are continuing in the background.
Technology median starting salaries for technology roles have increased by 4.8 percent in the past six months, but salaries for tech transformation roles have increased by 6.9 percent.
Matt Weston added: “Steady business growth through technology is a long-term strategy for many businesses, and as they continue to digitise and automate, and improve systems already in place, technology talent will stay in demand. However, skills are, and always will be, in short supply.
“The pace of technological development means that tech professionals must constantly update and learn to ensure their skills stay relevant, and therefore there is always a slight lag – and those ahead of the curve are able to command higher salaries as a result.”
Amelia Brand is the Editor for HRreview, and host of the HR in Review podcast series. With a Master’s degree in Legal and Political Theory, her particular interests within HR include employment law, DE&I, and wellbeing within the workplace. Prior to working with HRreview, Amelia was Sub-Editor of a magazine, and Editor of the Environmental Justice Project at University College London, writing and overseeing articles into UCL’s weekly newsletter. Her previous academic work has focused on philosophy, politics and law, with a special focus on how artificial intelligence will feature in the future.
