According to the recent article in the Grocer Magazine (21st January 2012) it may not feel like it but life is getting better. Fewer FMCG companies have pay freezes in place, salaries are slowly but surely increasing, more companies paid bonuses in 2011 and additional benefits haven’t been cut back.
These are the surprisingly upbeat findings of the latest annual Salary Guide, which shows that while salaries have not improved significantly over the last 12 months some people have done pretty well, all things considered. Significantly it’s in areas where there is a perceived shortfall of talent, such as senior sales roles, that employees are enjoying the greatest pay hikes.
Not everyone has cause to celebrate. Further down the management tree, National Account Executives, Regional Sales Managers and Territory Managers have all seen minimum salaries fall, reflecting the fact that some organisations are taking advantage of the large number of inexperienced people available in the market.
As a result employees in the FMCG sector remain cautious. Many of them are staying in their jobs for longer, even though they are a lot less satisfied with them than a year ago – and a perceived lack of job opportunities means they are not likely to cut their ties any time soon.
Here are some key findings:
- Attrition rates have crept up again
- More than half of all respondents have been with their current employer for more than three years
- The average number of jobs applied for per person has fallen from eight to five
- Some FMCG groups are paying loyalty bonuses to motivate staff
- Average salaries have increased by 3% - below inflation
- Pay freezes have fallen sharply
- More companies have paid bonuses in 2011
For further information on purchasing the 2012 Pursuit NHA Salary Guide or if you would like to compare your company’s data with the total market, we would be delighted to talk this through with you. Please contact us on 0118 940 5100 or email email@example.com and visit the Salary Guide page on our website.