The average salary in the sector increased by 12% in the year to the end of June, “with increases of in excess of 25% now commonplace”.
Employers with recruitment backlogs are “having to pay whatever’s required”, said Pentasia managing director Alastair Cleland as he introduced the sector’s definitive salary and recruitment review for 2021.
Demand is highest for tech skills and expertise, which Cleland says is a challenge that has “required an entirely new playbook” for recruiting companies.
Compliance and legal salaries were up 26% with regulatory developments set to continue applying upward pressure into 2022 and beyond.
Sales salaries have also rebounded following a pandemic-induced slump, rising 26%.
More encouragingly, however, Cleland said there are emerging signs of longer-term solutions to the highly pressurised situation in the talent market.
“‘People-focused’ leaders have been some of the hottest hires of 2021; employers understand the need to create cultures people want to work in”, he said.