Pay is stagnant but perks may soften the blow
Planning on offering your staff a pay rise, better benefits, both or neither this year?
Wage growth has become a hot topic in Australia of late, courtesy of the fact there’s been very little of it. The average worker received a wage increase of just 2 per cent last year, a situation Opposition Leader Bill Shorten has pledged to address via a series of workplace law reforms should Labor come to power in 2019.
Benefits in lieu
While stumping up a decent raise may be a tough ask for many small businesses, research conducted last year by employment search engine Indeed suggests a sizeable percentage of workers may be willing to accept benefits in lieu. A survey of 1006 people in permanent employment across all industry sectors found more than 40 per cent would forgo a pay rise in exchange for additional holiday leave or flexible working hours.
It’s good news for small business owners, according to Indeed managing director, Australia and New Zealand, Chris McDonald. “With only the facility to make modest increases, the benefits are a good way to keep people happy,” McDonald says. Read more
Sylvia Pennington - Brisbane Times - 18 Mar 2018