Data suggest firms at risk of losing their future superstars

Younger demographics have higher pay increase expectations and are more likely to leave if not rewarded



Firms are at risk of losing some of their future superstars as younger demographics demonstrate higher levels of pay increase expectations and a greater incentive to take action if not rewarded appropriately. 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 73% of those aged 18-34 expect to receive a pay rise within the next year, above the national average of 65% and the highest of all age brackets. Those in the younger demographic also revealed a greater desire to take action if they did not receive the salary increase they expect.



The majority (81%) of 18–34-year-olds would take steps ranging from moving employers to looking for additional sources of income if their remuneration didn’t change as they expect. This is significantly above the national average of 68% and higher than all other age groups.



According to the JCI, this is likely being driven by the high levels of job confidence noted in younger demographics. Almost two-thirds (61%) of those in this group indicated that they are confident in their job prospects in the coming year.



Gareth Gage, Regional Managing Director at Robert Half, commented:



“We’re definitely seeing an increased level of job confidence in the market and younger workers appear to be the most optimistic. With widespread reports of skills shortages and labour hoarding being noted across many businesses, it’s perhaps no surprise that these individuals are confident in their ability to secure the work and pay they want.



“However, salary increases aren’t necessarily feasible on the scale that some are asking, which means employers could be at risk of losing some of their future superstars at a pivotal time in the economic landscape. Ensuring that attractive and holistic employment packages are being offered will be crucial to attract and retain core talent in the immediate future. We’re seeing an increased desire from the workforce for benefits packages which include elements such as healthcare insurance and flexible working opportunities. These can often be a more cost-effective method of talent attraction in tough times. Those firms that really perfect their offering will be in the best place to retain high-performing professionals as we move into a more positive climate.”



Ends



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.