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:

Five tech trends for small business
Trends
Five tech trends for small business

In an increasingly connected world small businesses need to embrace technologies and tools that can make them stand out from their rivals, according to a Telstra Business Award...

Social media pages give small businesses a platform to show their products to a global audience of potential customers.
Growth
Growth
Not Perfect, but Small Business Still Needs Facebook

Privacy scandals and algorithm changes may have signaled the end of Facebook’s “golden age” as a marketing platform, but for most small businesses it is still an indispensable ...

Cyber security firm, Penten, celebrates winning the 2018 Telstra Business of the Year Award.
Success Stories
Success Stories
Prevention through deception Penten’s recipe for success

Canberra-based cyber security company, Penten, is the 2018 Telstra Australian Business of the Year. The business uses cyber deception strategies to protect Australian governmen...

Simon Rowe, the founder of Sleepbus want to develop a new mobile shelter specifically for women.
Success Stories
Success Stories
Sleepbus a first stop on the road to a better life for the homeless

It’s not okay for women fleeing domestic violence to have to sleep rough, and Sleepbus founder, Simon Rowe, plans to launch a new women’s shelter in Melbourne to provide them w...