In discussions with our clients throughout and beyond a global pandemic, one of the biggest challenges that remains at the forefront of so many of their minds is keeping up with salary expectations. Similarly, our interactions with candidates have been lead with a lack of clarity surrounding their worth and what level of remuneration they can expect, dependent on experience. Throughout early 2020, many businesses were forced to let go of key employees, only to shift towards a now, extremely candidate short market.
In response, Pace VIC have put together a Salary Survey to empower hiring managers to understand the current market rate when recruiting and direct line managers to retain. In turn, this means candidates are more likely to obtain job satisfaction and can spend less time explaining their value and more time providing it. Traditionally, salaries have not been so openly talked about but in this market, it is important to be transparent and look at the opportunity cost of not having the right person.
We received responses from 576 candidates on their priorities regarding employee benefits and non-base salary incentives coupled with salary data from over 3000 candidates in our network recorded over the last six months
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