Research: Recruitment, retention, and culture: assessing the pandemic’s impact
Cendex's research revealed that most employees ask for a salary review on an annual basis, with just 7.8% requesting a review every six months. The research found that IT employees are most likely to review their salary more often, with 31.2% of organisations within the sector reporting quarterly reviews.
The pay and benefits offered by an employer will be one of the key factors employees consider when looking for work, and play a key role in staff retention. In turn, an organisation’s payroll is likely to be its biggest expense. It is therefore vitally important that employers plan their pay and benefits offer carefully.
- 46% of respondents strongly agree that the war for talent has become more competitive over the last year.
- One in three organisations expect to see more resignations in the next four-six months.
- 48% of respondents believe that pay is the most important element for existing employees.
- Nearly a third (29.5%) of organisations identified staff mental health as the issue most likely to have the biggest impact on company culture over the next 12 months, particularly among larger organisations. This was second only to keeping staff morale and productivity levels up (36%).
For those organisations currently looking at budgets for their 2022 pay review, Cendex provides four pointers to help you get started in this useful guide.