skip to main content
Business IQ

Insights from the National Salary Survey 2014

Jenna Hanson
Business and Technology Journalist

Jenna Hanson covers business news and technology for Smarter Business™

Jenna Hanson
Business and Technology Journalist

Jenna Hanson covers business news and technology for Smarter Business™

The 2014 salary survey from the Australian Institute of Management (AIM) reveals smaller pay increases in the year ahead and less demand for permanent staff.

business people standing on coins

Now in its 50th year, the AIM 2014 National Salary Survey showed a decrease in the average pay rise across all states, a downward trend forecast to continue across all states and territories, and an increase in the number of resignations from 11.7 per cent last year to 12.2 per cent this year.

Head of research for the Australian Institute of Management NSW & ACT Matt Drinan said that more than half the employees who resigned had left their jobs to seek a higher salary.

“This is proof that salary is still a major motivator for employees to change roles,” says Mr Drinan.

“Getting pay and financial incentives market competitive plays an important part in attracting or retaining good staff. Where this isn’t possible, companies need to think more creatively when it comes to pay. One option could be to introduce well-designed variable reward schemes. These can provide organisations with cost-effective win-win pay solutions.”

On a more positive note, the report showed a decrease in the number of large companies who reported difficulty in recruiting staff due to skills shortages, down from 46.4 per cent in 2013 to 42.9 per cent in 2014.“

In a challenging and uncertain business environment – training is the key to ensuring employees have the necessary skills to drive the organisation forward,” says Mr Drinan.

Check out our infographic for a summary of some of the survey’s highlights:

Trends
How to spot a gap in the market: The minds leading the non-alcoholic drink movement

Paying attention to evolving customer needs is essential for any small business. Australian drinking culture has been changing over time. The Australian Institute of Health and...

Productivity
Productivity
How to upskill on a budget: Our guide to the best online courses

Training and upskilling can be a great way to keep your employees inspired. It can also help to fill any knowledge gaps for small business owners – like you – who wear many hat...

Growth
Growth
Selling… on TikTok? The surprising success of these Aussie brands

Since launching in 2016, TikTok has become a social media giant. The platform is a destination for unparalleled viral reach potential, where unknown users with one popular vide...

Growth
Growth
How Freddy’s Pizza harnessed delivery platforms while keeping their in-store customers #1

Third party delivery platforms like Uber Eats play a big part in how customers find and interact with small hospitality businesses. But they have their pitfalls. Freddy’s Pizza...