Salaries Rise

Written on the 17 June 2009

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.”


Latest News

GUVERA ESCAPES WIND-UP ORDER

GUVERA has avoided being wound up after a claim for a $1.78 million debt by Kwong Properties was dismissed at the ...

CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMER confidence remains at its weakest point since April 2016, according to the latest Westpac Melbourne Institut...

WESFARMERS' COAL BUSINESS ON FIRE

WESFARMERS (ASX: WES) has lifted its first-half profit guidance due to surging coal prices and higher than expected c...

SIXTH CONSECUTIVE RECORD PROFIT FOR AP EAGERS

AP EAGERS (ASX: APE) will beat guidance with its sixth-consecutive record profit when it reports its full year result...

Related News

CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMER confidence remains at its weakest point since April 2016, according to the latest Westpac Melbourne Institut...

RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS

ENTREPRENEURIAL cultivation companies in Australia are appearing quickly, but questions have been raised about whe...

SMES TAKE RETAIL MARKET SHARE AS CONSUMERS CHOOSE PERSONALISATION

IN a battle for the hearts and wallets of Australian consumers, it appears that small and medium retail businesses...

KNOWLEDGE WORKERS AMONG MOST SOUGHT AFTER IN 2017

BUSINESSES searching for efficiencies and improved systems are in search of knowledge workers early this year, say...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter