Salaries will grow by 3% in 2016

The 2016 Salary Guide from Robert Half reveals salaries for professional occupations will grow by an average of 3% in 2016. 

There is a higher increase than predicted in last year’s guide, which identified a 2.6% rise – it is well ahead of the current inflation rate of 0%. The Robert Half Salary Guide is the most comprehensive and authoritative resource on starting salaries and recruitment trends in finance and accounting, financial services, information technology and administration. 

The Guide enables employers and employees to benchmark salaries for 275 different permanent professional roles on a national and regional basis.

Phil Sheridan, Senior Managing Director, Robert Half UK said, “Businesses are actively seeking the skilled professionals they need to achieve their growth goals. With the growing supply and demand imbalance, salaries for specialised roles are expected to rise.”

With regards to administration and office support – as businesses pursue growth strategies, there is an increased need to enhance the internal structures required to support expansion activities and this is creating demand for talented  administrative staff. The average rise for all roles across the function is predicted to be 2.1%”

Sheridan added, “Ensuring star performers are receiving competitive renumeration helps businesses remain attractive to both existing staff as well as potential new recruits. Also, as hiring requirements become clearer, benchmarking salaries will ensure budgets accurately reflect business needs.”