The strong Aussie dollar combined with rising job numbers and an emerging skills shortage is placing pressure on IT managers to increase employee salaries, according to one recruitment firm.
Hays Information Technology regional director, Peter Noblet, said the combination of these factors would make a “compelling” argument for employees wanting to approach their boss for a salary increase.
“Candidate confidence has been steadily rising all year,” Noblet said in a statement. “The jobs market in Australia has recovered quickly in comparison to many other markets internationally.”
According to Noblet, employment in September grew by 49,500 and as such, the salary expectations of candidates are also on the rise.
“Along with a competitive salary and benefits package, we also advise employers to offer solid career advancement opportunities in order to help attract and retain staff,” he said.
Recruitment company, Greythorn, recently advised IT managers not to become complacent about staff needs and were advised to respond to any needs to keep them “satisfied”.
“The next three to six months is going to be a very challenging time if you manage an IT team,” Greythorn managing director, Richard Fischer said at the time. “The current rate of churn among IT professionals is extreme.
The rising dollar is also contributing to an increasing number of Australian workers heading overseas to work, giving them the opportunity to relocate, set themselves up and be able to pay for living expenses while searching for a job.
“Also adding to this movement is the improvement in job numbers internationally,” Noblet said. “Candidates who had put their relocation on hold during the GFC are again expressing interest in heading overseas now that international markets are improving, especially Asia and the US, and to a lesser extent London.
“They are looking for that opportunity to travel, live abroad and gain international contacts and experience.”
However, Noblet maintains there are many reasons to stay put, noting the International Monetary Fund (IMF) recently indicated the Australian economy will be one of the better economies on the global scale next year.
“When combined with current jobs numbers, it’s a fantastic vote of confidence for our economy and the job opportunities it will present.”
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.