Technology, mining and life sciences companies are planning to hand down the highest median pay rises in 2023, a survey of more than 1000 Australian organisations has revealed.
Mercer’s insights and data leader, Chi Tran, said pay was only part of the equation when attracting and retaining staff., which the Reserve Bank expects to come in at 6.25 per cent this financial year after peaking at 8 per cent in the December quarter. It painted a picture of an Australian jobs market defined by severe labour shortages, large pay rises in some sectors, high rates of staff turnover and a growing emphasis on non-financial benefits to lure new starters.Mercer’s insights and data leader, Chi Tran, said the research offered two key takeaways. The first was that companies were lifting wages to attract workers in a tight labour market, and not because they were responding to the rising cost of living.
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Source: FinancialReview - 🏆 2. / 90 Read more »