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Finance Specialists Aldermore predict sharp rise in perm salaries | With salaries on the up, it is vital that employers realise the need to offer the right package to secure the right candidate.

 

With the much welcomed rise in salaries after years of static wage structures, an employer can no longer rely on the gratitude of the employee for having a job in tough economic times. Instead employers must recognise that in order to develop and establish a competitive edge they need to focus on how their rewards package can keep the right individuals. Offering the right package in a growing jobs market will be key to keeping the best people.

 

The Recruitment and Employers’ Confederation (REC) has confirmed that there is a boom in demand for full-time members of staff across every area of the UK. As a result, the most recent figures reveal that pay growth had hit three per cent by the end of 2013, and here, Aldermore’s specialist recruitment team head, Sunil Dial, predicts it will rise further.

 

“An REC report revealed that 16.6 per cent of employers had improved their salary offers to new recruits within a three-month period, with only 2.7 per cent were offering less. The ‘net’ figure was the highest percentage of companies offering better pay for five years. This gives an indication of how competitive the market for employees is becoming, and why the time is right for business bosses to position themselves at the front of the pack.

 

REC chief executive Kevin Green said that the economic recovery is now taking place at such a rate that there are growing worries that there will be a shortage of skilled staff across the UK. Employers, therefore, must ensure they are in the right position to attract the people that are out there. They need to find the best of the bunch.

 

It is not enough to simply attract plenty of CVs when advertising a job. This needs to be translated into having the right package to make talented candidates not just apply and turn up for an interview, but to actually take the job on offer. Once positions are filled with the right people and the right skill-sets, employers must then ensure they can retain them.

 

The fact is that businesses will not have the staff to maximise their potential if the right packages are not on offer. Employers must realise that a good financial reward will not only be beneficial to the candidate – it could make the difference between securing and missing out on an extremely talented individual with the ability to drive their businesses forward.

 

It is now essential that employers give themselves a competitive edge when it comes to attracting the best talent in the market. Not only will a good package help secure the right calibre of applicants for a position, but it will also help to foster loyalty, commitment and hard work in the person that eventually accepts the job. No one wants to feel undervalued, which is why a good salary can ensure good morale and a happy and productive team.

Source: www.recruitmentbuzz.co.uk