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Average construction wage growth of 3.6% is double UK average
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Average UK wage growth of 1.8% masks over 10% pay rises for some qualified, professional and skilled workers
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71% of construction employers plan pay increases in the next 12 months
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War for talent intensifies as 77% of employers plan to increase headcount and 84% expect skills shortages will be a challenge
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63% of employees anticipate they will move jobs in the next 12 months
According to an analysis of job placements made by the specialist recruitment company Hays, over the past year salaries for some construction professionals have risen by over 10%, some of the highest salary increases in the UK. Some of the highest average increases have been for contract and project managers, quantity surveyors and site managers, and this growth is not limited to London with average salary increases over 5% also reported in the East Midlands and South East.
The survey of over 10,000 employers and employees indicated that employers are confident their business activity will increase over the next 12 months and this will result in greater hiring, with 77% of construction employers planning to increase headcount over the next 12 months. However, 84% expect to encounter a shortage of suitable candidates when doing so.
Construction employers also plan to recruit to recruit more apprentices, graduates and school and college leavers than the UK average. Employers are also starting to take action to address skills gaps, in the past year 46% recruited apprentices and 31% increased their training budget for current staff.
Not only are businesses optimistic for further growth in the year ahead, we are also seeing increased confidence amongst jobseekers in construction, with 63% anticipating that they will move jobs in the next year and 42% considering a move within the next 6 months. Although salary increases have been greater in construction than other professions, dissatisfaction with pay is higher with 65% of employees unhappy with their pay and 35% planning to move jobs as a result.
Andrew Bredin, Managing Director of Hays Construction & Property, says:
"We have seen a gradual increase in construction salaries for some time now, but these pockets of salary rises are becoming more significant. Jobseekers often have the pick of two or three jobs, they get snapped up quickly by employers and they often receive a counter offer from their current employer, which can push their salary up even further.
"Some employees have already spotted they can earn more and decided to make a career move. Others will follow suit over the next 12 months and the situation could soon reach crisis point for employers fighting for the talent they need. With construction employees reporting high levels of dissatisfaction with pay, employers will need to look at what they can offer in order to attract and retain the best employees."
To access Hays UK Salary and Recruiting Trends 2015 visit www.hays.co.uk/salary-guide
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For further press information please contact:
Kathryn Iacono
Hays
T. 020 7200 3760
E. [email protected]
Claire Fowler
Hays
T. 020 7200 3760
E. [email protected]
About the Hays UK Salary Guide 2015:
This guide has been compiled using data gathered during 2014 from 96 Hays offices across the UK. The salary data is based on job listings, job offers and candidate registrations. The findings of our benefits survey are based on responses from over 10,000 employers and employees from organisations of all sizes throughout the UK.
About Hays
Hays plc (the "Group") is a leading global professional recruiting group. The Group is the expert at recruiting qualified, professional and skilled people worldwide, being the market leader in the UK and Asia Pacific and one of the market leaders in Continental Europe and Latin America. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments. As at 30 June 2014 the Group employed 8,237 staff operating from 237 offices in 33 countries across 20 specialisms. For the year ended 30 June 2014:
- the Group reported net fees of £724.9 million and operating profit (pre-exceptional items) of £140.3 million;
- the Group placed around 57,000 candidates into permanent jobs and around 212,000 people into temporary assignments;
- 24% of Group net fees were generated in Asia Pacific, 42% in Continental Europe & RoW (CERoW) and 34% in the United Kingdom & Ireland;
- the temporary placement business represented 59% of net fees and the permanent placement business represented 41% of net fees;
- Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, Colombia, Chile, China, the Czech Republic, Denmark, France, Germany, Hong Kong, Hungary, India, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Portugal, Russia, Singapore, Spain, Sweden, Switzerland, UAE, the UK and the USA