Wage growth pressure is rising, and small businesses wage increases have climbed from five percent to 5.2 percent in the last year. And encouragingly, staff turnover has seen a small drop from 13.6 percent to 12.7 percent, found the Australian Institute of Management’s (AIM) National Salary Survey 2008.
“Small companies are continuing to find it difficult to attract staff within the current labour market. While the recent staff turnover figures are encouraging, they are still high and will continue to place pressure on small companies to pay more to attract and retain workers,” says Dr Jennifer Alexander, chief executive of AIM NSW and ACT. “While pay is clearly important, there is an ongoing need for employers to ensure that employees have the right skills to take on more challenging roles.”
The search for a challenge and better pay are the main reasons behind staff resignations.
