Jobs confidence in Wales pushing up pay expectations

Workers across Wales are showing above-average confidence in their job prospects, with pay expectations set to increase as a result. That’s according to the latest Robert Half Jobs Confidence Index (JCI) – an economic confidence tracker produced in partnership with the Centre for Economics and Business Research (Cebr).

The data revealed that two-thirds (66%) of Welsh workers are confident in their job over the next six months, above the national average of 60%. This optimism is translating into heightened pay inflation expectations, with workers across the country indicating hopes of an average pay rise of 4.6% this year, above the national average of 3.8%.

Interestingly, though, fewer employees in Wales suggested that they would take some form of action – such as seeking a new role in their current business or changing employers – than the national average. Less than half (43%) of Welsh workers would take action if a salary increase wasn’t an option this year, compared to 68% of UK respondents overall.

James Fortnam, Market Director, Wales, Ireland & Scotland at Robert Half, commented:

“Job confidence across Wales is clearly high and there are likely a number of reasons for this. Growing skills shortages coupled with the recent reports that the country has the highest rate of economic inactivity are no doubt leading to staff feeling optimistic about demand for their skills. While this has created an environment where pay rise expectations are higher than the national average, employers can be somewhat comforted by the fact that fewer people are likely to take direct action if they don’t receive the salary increase they are after. Of course, that doesn’t mean that businesses can ignore these high levels of confidence. Instead, it should be a catalyst for firms to consider their holistic employment packages and how elements such as tailored benefits packages or career progression programmes can act as more effective attraction tools.”

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Press contact
Vickie Collinge
vickie@bluesky-pr.com
01582 790705

About the research

In partnership with the Centre for Economics and Business Research, the quarterly Robert Half Jobs Confidence Index is the most authoritative report on the key socio-economic factors influencing confidence in the UK labour market.

The Jobs Confidence Index (JCI) is made up of four equally weighted pillars, each measuring a factor which contributes to jobs confidence. These are:
1.Job security confidence
2.Pay confidence
3.Job search and progression confidence
4.Macroeconomic confidence

The JCI takes a positive or negative number, where numbers above zero signal that jobs confidence is higher than the long-term average, and numbers below zero show it is lower. The JCI can take any number, but it usually stands between -30 and 30, showing that confidence is close to a normal level when it is within this range.

About Robert Half

Robert Half (NYSE: RHI) is the world’s first and largest specialised talent solutions and business consulting firm, connecting highly skilled job seekers with rewarding opportunities at great companies. We offer contract talent and permanent placement solutions in the fields of finance and accounting, technology, marketing and creative, legal, and administrative and customer support, and we also provide executive search services. Robert Half is the parent company of Protiviti, a global consulting firm that delivers internal audit, risk, business and technology consulting solutions. In the past 12 months, Robert Half, including Protiviti, has been named one of the Fortune® Most Admired Companies™ and 100 Best Companies to Work For and a Forbes Best Employer for Diversity. Explore talent solutions, research and insights at www.roberthalf.com/gb/en.