Salaries Rise

A RECENT survey from the Australian Institute of Management (AIM) has found that despite the recession, Queensland’s large companies have recorded pay movements above inflation levels.

The National Salary Survey 2009 shows that while resource boom states have been the hardest hit, Queensland’s pay movements in large companies are at 4.8 per cent this financial year, which is above the national average of 4.3 per cent.
The survey indicated an expected 3.5 per cent rise in salaries for 2009-10, which is more than the current CPI of 2.5 per cent.

But while salaries rose so did the level of unemployment and despite the forecast wage inflation, the trend is much lower than last year’s rate of 5.7 per cent.

Involuntary staff turnover rates were at 4.8 per cent, compared to 3.8 per cent last year and around a quarter of organisations are expecting permanent staff levels to decrease.

AIM Queensland CEO Carolyn Baker says while pay is important, clearly there is a need for employers to ensure their staff have the right skills to take on more challenging roles and that the benefits of training investment are retained.

“In this market, savvy employers are looking at creative ways to attract, retain and motivate people. This may include putting in place a career development plan to give employees the skills they need to progress to the next level within the organisation,” says Baker.

“In this way employees get that sense of a great career move, while employers get to engage and retain high-performing individuals.”