Staff are putting interesting work and good management ahead of salary when it comes to job satisfaction, says the acclaimed Cooper Lomaz annual salary survey 2016 for Norfolk.
Now in its 11th year, the in-depth report by independent recruitment consultants Cooper Lomaz, which has offices in Norwich, compares salaries and analyses trends in Norfolk, Suffolk, Cambridgeshire, and Essex in the key sectors of:
- Accountancy and Finance
- Engineering
- Food Manufacturing
- Information Technology
- Sales and Marketing
- and Supply Chain
It reports that salaries and job opportunities are continuing to rise as the economy recovers.
It says salaries are only placed third when it comes to employee job satisfaction, sitting behind an interesting job and good management.
And skills shortages in some sectors mean employees are benefiting from a bidding war of salary offers as their existing bosses try to retain their services.
Average salaries in the county were £30,992, compared to £31,193 in Suffolk, £33,951 in Essex, £34,453 in Northamptonshire, £37,754 in Cambridgeshire and £41,908 in Hertfordshire.
Norfolk Trends include:
- Record numbers of salary counter-offers as Accountancy and Finance employers seek to retain staff seeking new jobs
- A slump in the oil and gas industry seeing staff looking to use their skills in other sectors
- Food Manufacturing staff being recruited from Europe and major shortage of engineering candidates in the sector
- A shortage of qualified candidates in IT. Companies with the slickest recruitment systems will pick up the best staff in competitive times
- Sales candidates with proven track record outweigh those with qualifications or degrees
- Supply Chain employers value candidates with quality training including apprentices
Cooper Lomaz Operations Director Mark Fletcher said the growth over the last year, and anticipated again in 2016, is a reassuring sign of confidence in the market as the economy continues its recovery.
More than half the surveyed businesses (55%) are planning to expand staffing this year as the economy is projected to grow by 2%.
Wages are increasing slightly at around 4%, with 58% of those surveyed enjoying a salary increase.
Companies are being encouraged to up their game with improved benefits, holidays, training and career opportunities to attract and retain staff.
The report is compiled from information provided by more than 2,000 professionals in specialist sectors, along with data from interviews with more than 15,000 candidates. The survey, which is most comprehensive to date, is a key tool in helping client companies and HR professionals gauge market trends, pay and benefits.
Cooper Lomaz Recruitment, which was started by two Norfolk businesswomen in 1990 and now has a turnover of around £15m, is itself looking to expand by 10% and hire another eight people for its offices at Norwich and Bury St Edmunds.
The survey will be circulated to Cooper Lomaz clients with highlights on the company website www.cooperlomaz.co.uk
- Article submitted by Newsmakers PR