Growth Customer Experience Productivity Business IQ Trends Success Stories Tech Solutions Subscribe Tech Enquiry
Business IQ

Insights from the National Salary Survey 2014

Jenna Hanson
Business and Technology Journalist

Jenna Hanson covers business news and technology for Smarter Business™

Jenna Hanson
Business and Technology Journalist

Jenna Hanson covers business news and technology for Smarter Business™

The 2014 salary survey from the Australian Institute of Management (AIM) reveals smaller pay increases in the year ahead and less demand for permanent staff.

business people standing on coins

Now in its 50th year, the AIM 2014 National Salary Survey showed a decrease in the average pay rise across all states, a downward trend forecast to continue across all states and territories, and an increase in the number of resignations from 11.7 per cent last year to 12.2 per cent this year.

Head of research for the Australian Institute of Management NSW & ACT Matt Drinan said that more than half the employees who resigned had left their jobs to seek a higher salary.

“This is proof that salary is still a major motivator for employees to change roles,” says Mr Drinan.

“Getting pay and financial incentives market competitive plays an important part in attracting or retaining good staff. Where this isn’t possible, companies need to think more creatively when it comes to pay. One option could be to introduce well-designed variable reward schemes. These can provide organisations with cost-effective win-win pay solutions.”

On a more positive note, the report showed a decrease in the number of large companies who reported difficulty in recruiting staff due to skills shortages, down from 46.4 per cent in 2013 to 42.9 per cent in 2014.“

In a challenging and uncertain business environment – training is the key to ensuring employees have the necessary skills to drive the organisation forward,” says Mr Drinan.

Check out our infographic for a summary of some of the survey’s highlights:

Violet Roumeliotis, 2017 Telstra Business Woman of the Year.
Success Stories
Success Stories
Business Woman of the Year helps families find their feet

Violet Roumeliotis, Telstra Australian Business Woman of the Year 2017, shares her experiences as a migrant and woman helping to improve people's lives. As told to Stuart Ridle...

Paul Greenberg, founder of online retailer network NORA, speaking at an event.
Trends
Paul Greenberg on e-commerce: Customers want a personalised experience

Paul Greenberg, founder of online retailer network NORA, is something of a pioneer in Australian e-commerce. After 35 years in the wider industry, he says success still comes b...

Image shows a worker using an e-commerce platform in a warehouse to fulfill orders.
Tech Solutions
Tech Solutions
How to choose the best integrated e-commerce platform

If there's one constant of e-commerce it's change. Success in the digital world requires an e-commerce platform that can adapt with your e-commerce strategy so that change does...

Dietitian and exercise physiologist, Kate Save accepts the 2018 Telstra Victorian Business of the Year Award for healthy eating disruptor Be Fit Food.
Success Stories
Success Stories
Be Fit Food tastes success at the 2018 Telstra Victorian Business Awards

Science with more than a pinch of flavour are the ingredients behind the rapid growth of Be Fit Food, the 2018 Telstra Victorian Business of the Year. The business’ recipe for...