Updated Salary Guide
There have been so many significant changes to guide salaries that we’ve had to do a major update well before the year is out!
The most significant increases are across construction management and commercial roles, with specifics changing within manufacturing too. Sales salaries had already taken a very marked increase last year, and seem to have largely stabilised – at least for now.
Over-inflated?
Are salaries overinflated? I still don’t think so. The offsite industry needs to attract talent from other construction sectors and other industries It therefore needs to be competitive against them if it is to attract new talent in, and keep it. Historically pay has been low compared to other sectors, particularly compared with main contractors and developers, so it’s just catching up. Those other sectors also have inflationary pressures – so this won’t stop soon. Doubtless, the skills shortage is pushing salaries up as employers are paying more to attract talent in, and with counter-offers to try and stop people leaving (don’t get me started on counter-offers unless you have a spare hour or two!).
Our Advice
My advice to employers right now is to aim to increase staff salaries as far as you possibly can, to avoid losing people to competitors. Do it before they decide to leave, please! But even more importantly, make sure you are looking after your company culture, and your “Employee Value Proposition” to help build loyalty. I heard of an employer with a 40% attraction rate last week – and they pay quite well!.
As well as providing the Salary Guide, our staff are on hand to advise with benchmarking, and broader reward and recognition advice.
Going digital with a PDF updated salary guide also aligns with our sustainability plans to reduce our carbon emissions. Reducing our paper waste is another step towards lowering our impact on carbon pollution. So you can rest assured that all our paper salary guides have been appropriately recycled!
To view our latest Salary Guide click here
