What are you worth?
Covid-19 and the resultant crisis continued to severely impact employment statistics, contributing to a downturn in hiring during 2021, notes Thuli Nkosi, Director, Ad Talent Employers were cautious about employing new staff, focusing on maintaining cash flow and consolidating their core business. “We noticed a trend to employ on short-term contracts, with a view to permanent employment at a later stage,” she says. The Ad Talent team also saw a lack of confidence in committing to long-term projects, causing a conservative approach to hiring.
“This resulted [in] salary stagnation in most categories, with a few exceptions,” Nkosi continues. “Salaries, therefore, remained mostly static. Salary progression in the form of increases was largely on hold, with little or no movement and, in some instances, salary cuts were applied. We found that many candidates, who were previously looking for a career change, put a halt to their search because of the instability in the job market.
“Retaining top talent was a key strategy for many employers and this resulted in a slight increase in salaries and more benefits at senior level. Agility, flexibility and uniquely-structured remuneration packages included reduced working hours, unpaid leave/sabbaticals and the ongoing work-from-home [WFH] situation. This has become the norm for many employers.”
Click here to see the 2022 Salary Survey