Companies increasing starting salary offers to secure new hires: Survey

Average increase 5 per cent
|hrreporter.com|Last Updated: 01/07/2016

Companies today are willing to pay a premium for top talent, according to a survey by Robert Half.

Nearly three-quarters (72 per cent) of CFOs interviewed said they increased new hires' starting salaries from what they made in their previous job. The average increase, according to financial executives, was five per cent.

Twenty-eight per cent provided the same starting salaries.

"When hiring in a particular industry or market heats up, companies need to be extra diligent in identifying what attracts the talent that their business needs," said Greg Scileppi, president of Robert Half, international staffing operations. "Ensuring the right staff are supporting the business means being aware of how other companies are courting potential or current employees, and adjusting incentives to compete with higher salaries elsewhere."

When asked how the pay increases compared to what they offered two years ago, 77 per cent of CFOs said today's salaries were at least somewhat higher.

"Today's top candidates are receiving multiple job offers," said Scileppi. "Companies that strategically present strong salaries from the get-go will be less likely to lose out on talented professionals who are taking the time to size up all their options before choosing an employer."

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