Despite the shift to remote working over the last year, many businesses have indicated location still matters when it comes to salary.
According to new research by specialist recruiter Robert Half, close to a third of companies (31 per cent) are planning to fill vacated roles and hire for newly created positions in 2022.
The impact of remote working has been acknowledged by companies with many now searching for talent that possesses hybrid skill sets in addition to digital skills.
Despite this, close to half of firms (47 per cent) reported they still take a candidate’s location into account when making a remote hire, which could limit salaries for those opting to live away from the physical workplace.
However, the research further warns that the “job market is heavily geared in favour of candidates” who are now “better able to command salaries, benefits and working conditions that suit them”, as revealed by the increases in median monthly pay.
This has also been confirmed by employees themselves of which one in five (20 per cent) stated they would consider leaving their current role if they could not have their desired working arrangements.
As such, benefits packages are being enhanced by companies with over three in five (62 per cent) employers now offering bonuses above or in line with pre-pandemic levels to counter stagnant salaries, and nearly half (45 per cent) now offer remote working as standard, in line with candidate expectations for the workplace.
Overall, however, the business outlook has significantly improved with two in three (66 per cent) businesses feeling “somewhat to more” confident about growth prospects over the next 12 months than in the previous year.
In light of this, Robert Half has recommended employers looking for new talent to:
- Act fast in picking the correct candidate for the role
- Be flexible on working conditions
- Compromising if the candidate meets the majority of the job description
- Planning ahead to avoid facing a talent gap
Matt Weston, UK Managing Director at Robert Half, said:
While businesses may not intend to increase the salaries on offer, the booming jobs market means they may need to re-evaluate. With candidates holding multiple offers at the moment, we’re finding that a competitive salary alone is not enough; businesses must review the benefits on offer and promote their values to set themselves apart.
We’re currently seeing demand above and beyond pre-pandemic levels, and despite the so-called ‘Great Resignation’ creating a tsunami of turnover, we are still experiencing a saturated market where the demand for skilled talent outstrips the supply.
*This research has been outlined in Robert Half’s 2022 Salary Guide. Robert Half commissioned Rigour Research to survey 300 senior leaders with hiring responsibilities across small, medium and large enterprises from public sector, private and listed businesses across the UK. The research took place by phone during July 2021.
Research amongst senior leaders was supplemented with additional consumer research. Robert Half commissioned Opinium Research to conduct a survey of 2,000 UK adults between 14-16 September 2021.
Monica Sharma is an English Literature graduate from the University of Warwick. As Editor for HRreview, her particular interests in HR include issues concerning diversity, employment law and wellbeing in the workplace. Alongside this, she has written for student publications in both England and Canada. Monica has also presented her academic work concerning the relationship between legal systems, sexual harassment and racism at a university conference at the University of Western Ontario, Canada.
