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BUSINESSES are remaining ‘cautious’ is the major headline from this year’s local salary survey.
But that’s no cause for alarm after a long period of uncertainty characterised by artificial peaks and prominent troughs in pay, according to experts at Anne Corder Recruitment.
The agency produces the Peterborough Local Market Survey in partnership with specialist reward consultants PayData Ltd.
While only 10% of participants revealed they had frozen pay this year compared to 25% in 2012, the overall average rise in salaries within the past 12 months stayed the same at 2.5 per cent.
“The results suggest that the plateau hinted at last year is here to stay, or at least for the next few months,” said ACR recruitment partner Karen Dykes. “Throughout 2012 and 2013 there has been a further levelling out of salary increments following an uncertain period for many different industries. Nevertheless, staff continue to be rewarded for hard work and loyalty within the constraints of their company’s budget.”
The biggest winners according to this year’s figures have been accounts and stores, warehouse and production workers who have notched up rises of around three per cent. Support functions have shown their first increase for a number of years, with HR Officers and Marketing Assistants on the receiving end of substantially higher pay rises than in recent years. At the other end of the spectrum, customer service and call centre figures have dropped by 1.5 per cent.
“Some of these differences are accounted for by the shift in the survey sample. We have some businesses taking part for the first time,” added Karen. “Overall however, there is nothing within the results that is causing either alarm or delight.”
The Salary Survey is now in its 16th year and is recognised as a key tool for companies keen to remain competitive in the local recruitment market.
To help that process, an interim report was introduced earlier this year, which indicated cautious optimism across the Greater Peterborough area.
PayData’s Director Tim Kellett, said: “Both sets of survey results show that we are very much in a period of slow recovery. Headline 2013 employer base pay increases in the Peterborough area have been comparable to our national pay database, indicating that most wage settlements are still struggling to keep up with price inflation.
“Participant feedback also indicates that there are still some roles that local employers struggle to recruit into, particularly digital media and more senior positions. Salary pressures are a likely reason for this gap in the local market.”
A summary of this year’s report will be ready soon and can be sent to any business that requests a copy – just email email@example.com. A fuller, more in-depth analytical report is available only to salary survey participants. The team are now taking enquiries for next year’s survey so if you would like to take part and receive the comprehensive results package, please get in touch.