Cash injection this Christmas
10/11/2011
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Australian businesses are poised to offer bonuses and pay rises, and though the resources sector is set to lead the pay-rise pack, other sectors aren’t far behind according to a new report.
The 2011 Australian Salary Movement Index (ASMI) has forecast an average salary adjustment of 4.25% in fixed annual rewards across all industry sectors in Australia in 2011/12, while the resources sector is likely to see a boost of 6.25%.
Additionally, the report found a sharp increase in incentivised-based pay this year, with bonuses now widely used across all work levels to reward performance and retain top talent. Indeed some 75% of employees will be awarded bonuses, compared to 66% of employees in 2010.
Steven Paola, author of the 2011 Australian Salary Movement Index Report, commented: “During the economic downturn many organisations placed greater emphasis on rewarding for performance rather than applying ‘across the board’ salary increases."
The research shows that the trend continued long after the peak of the GFC, and widespread bonuses are only now returning as organisations hit their profitable margin targets once again.
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Janina on
01 Feb 2012 03:40 PM
Contractors are not usncetivined to roll over their contracts, in fact their entire credibity is based upon their ability to get the job done within the achievable expectations of their CLIENT. It may surprise the author but good contractors have customer satisfaction at the top of their priorities.If solution improvement is a requirement, call it out. More often than not the mandate of the contractor is to execute a scope defined by a consultant.A lazy manager is nothing else but a lazy manager, and there are many of these embedded in the permanent workforce.Why not get rid of contractors? Businesses need to have a holistic view of their resource needs to deliver on the goals and objectives. A mix if full time, part time pernament and contract resource pools is common, it is the management of the mix that is key. As tragic as it is how would corporates make the last quarter head count tweaks without having contractors to terminate temporarily?Outsourcing is a legitimate part of the mix, but the contracts associated with outsourcing carry rigidity and unefficiency too. Contractors are the more efficient way of outsourcing one off work packages.The fact is that poor and lazy managers are the wasteful layer of organisatons. Keep them focussed, efficient and effective, and you they will drive the right resource mix for the business.