Robert Half research reveals CIOs have had to increase the salary amount originally offered for seven out of every 10 new hires. Read more here.
- Australian IT employers are raising the salary amount originally offered to seven out of 10 new hires to secure their preferred candidate.
- The top three considerations from CIOs that could earn IT jobseekers a higher base salary are: experience (48%), technical skills (46%) and industry experience (38%).
As Australian companies contend with a growing skills shortage in the technology sector, new research has found many IT employers are revaluating their financial offerings to attract top candidates. An independent survey of 160 Australian CIOs commissioned by specialised recruiter Robert Half reveals that for seven out of every 10 new hires, IT employers have had to increase the salary amount originally offered to secure their favoured candidate.
Incidentally, a separate survey of Australian jobseekers in the IT sector published in the newly-released 2019 Robert Half Salary Guide reveals 59% of respondents cite salary as the most important factor to them when looking for a new job or accepting a job offer – a strong indication that financial rewards factor highly in a candidate’s decision-making process.
A focus on financial incentives to attract high-calibre talent comes as no surprise given almost nine in 10 (88%) Australian CIOs say it is more challenging to attract qualified IT professionals to their organisation compared to five years ago. The survey findings are reflective of broader wage growth trends within the IT sector as the 2018 annual wage growth in the Australian IT sector was reported to be 3.3% higher than the national average across all industries .
How IT jobseekers can earn a higher base salary
CIOs have revealed which factors would prompt them to pay more than the initially-planned base salary. The top three considerations from CIOs that could earn IT jobseekers a higher base salary are: experience (48%), technical skills (46%) and industry experience (38%) – a good indication of where ambitious IT candidates should focus their efforts on in order to earn a higher salary.
Andrew Morris, Director of Robert Half Australia said: “The global technology race is in full swing, with many businesses adopting innovative technologies, such as blockchain, AI, machine learning, natural language processing and virtual reality, to differentiate themselves from the competition. Consequently, demand is rapidly rising for high-calibre tech candidates in an increasingly competitive talent market, which means more skilled IT jobseekers are able to negotiate higher salaries as companies endeavour to secure their preferred candidate.”
“While offering higher salaries is important in a competitive environment, non-financial incentives are also an effective way to appeal to highly sought-after workers in the marketplace. Specifically, as the future working environment continues to become more agile thanks to technology and changing attitudes, increased flexibility around working hours and location is also a highly attractive benefit for today’s workforce.”
About the Robert Half Salary Guide
The 2019 Robert Half Salary Guide is the most comprehensive and authoritative resource on starting salaries and recruitment trends in finance and accounting, financial services, information technology and administration.
The Robert Half Salary Guide offers a comprehensive overview of the current salary ranges, and job and remuneration trends for finance and accounting professionals, finance professionals in the financial services sector, technology professionals and administrative professionals. The results and insights of the 2019 Robert Half Salary Guide are based on comprehensive analyses, local job placements, local expertise and independent research of industry executives and office workers.
About the research
The annual study is developed by Robert Half and was conducted in June 2018 and January 2019 by an independent research firm, surveying 160 CIOs from companies across Australia. This survey is part of the international workplace survey, a questionnaire about job trends, talent management and trends in the workplace.
An additional anonymous survey was conducted in November-December 2018, surveying 1,000 office workers across Australia (289 of which work in the technology/IT department). The data has been collated and verified by MarketProbe, an independent research firm, with the results segmented by age, gender and geographic location.