This year has been difficult for businesses and usually, many staff would be receiving their bonuses or salary increases at this time, the reality is many companies just can’t afford it due to the impacts of COVID-19.
In saying that there are companies who are continuing to hire and employees who are negotiating salary packages.
At a Glance:
- Many companies can't afford salary increases this year
- The Iconic Recruit FY20/21 Salary Benchmarking provides overview of industry salaries
- In lieu of salary increase, an employee could negotiate an alternative 'soft' benefit
The Iconic Recruit FY20/21 Salary Benchmarking has been completed and provides an overview of industry salaries for property development, real estate, body corporate, retail and commercial property.
Our salaries are based on actual placements and discussions with our clients made by our businesses recruitment consultants, combined with an analysis of the demand for roles, supply of talent and other market conditions.
If a salary increase is not achievable right now, then there are some other soft benefits that could be offered:
- Flexible Hours – not necessarily just working from home but maybe the ability to start earlier and finish earlier or continue working from home after the pandemic is over.
- Extra Leave – ask for extra annual leave, birthday leave, a monthly RDO (rostered day off) or any other time off that might enrich your life but not financially affect the company.
- Professional Development – many companies are using the ‘downtime’ of COVID to upskill and cross-train their employees. This could be a great opportunity to pick up qualifications or skills you don’t have but need for your career aspirations.
- A Promotion – not all promotions involve a salary increase (and if it does, you can negotiate a salary increase dependent on business improvement). You may be able to negotiate yourself a better title & responsibilities.
- Lateral Career Movement – have you been wanting to change your focus within the business? This could be the perfect time to change your career within the business.
- Review in 6 Months – add into your negotiations that you would like a salary review in 6 months’ time if business has improved.
If you would like a copy of this document please do not hesitate to contact Iconic Recruit in the contact form below.
If you are in the market for staff or are looking for a role in real estate, you can browse Iconic Recruit's listings here.
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