Employers offering more than three times market rate for some skills: survey
More than a third of employers in Australia revealed that they are willing to pay a lot more for candidates with leadership skills, according to a new report from Robert Half.
The survey, which polled 300 respondents, found that 37% of employers will offer up to 26% of salary premium to job candidates with leadership or management skills.
Nicole Gorton, director at Robert Half, said this demonstrates that employers recognise that these candidates can bring a "unique edge" to the organisation.
"They are willing to pay a salary premium because of the pivotal role the candidate will play in steering companies towards growth as well as maintaining a distinct competitive edge," Gorton said in a statement.
On the topic of how much they're willing to pay, employers also revealed they can offer job candidates with project and programme management skills up to 31% more than market rates. However, only 11% of the respondents said they are willing to offer a higher salary.
For other skills, employers said they are willing to offer the following salary premiums:
- Cybersecurity (27%)
- Financial planning and analysis (26%)
- Employee relations (25%)
- Customer service (23%)
"These types of premiums and salary increase are not on offer to everyone. Business leaders are looking for staff who can propel innovation and swiftly adapt to changing conditions," Gorton said. "Employers see the salary premiums as an investment in amplifying efficiencies, reshaping outcomes and securing a prosperous future."
Being flexible on criteria
Meanwhile, employers revealed that they are open to being flexible with some of their standards if a job candidate can make up for it in other areas.
More than a quarter of the respondents said they will bend on specific industry experience (29%) and be flexible over the number of years of experience (28%).
Others said they can be flexible about certifications (14%) and the required education (8%) for the role, according to the report.
Gorton attributed this to employers recognising the importance of having employees with the right skills for the job.
"Therefore, employers are open to hiring candidates who hold the right skill set, even if their experience in the industry is relatively limited," she said.
Requiring certifications of job candidates
But the report noted that more than half of employers are still requiring certifications from candidates so they can be considered for a role.
In finance, seven in 10 employers said they certifications are necessary in the fields of finance and accounting (75%), as well as financial accounting and business advisory (70%).
In technology, more than six in 10 employers said certifications are necessary in the field of security, privacy, and compliance (64%).
"Certifications still provide tangible proof that a candidate has expertise in key areas, which is particularly necessary for industries such as finance and technology, as they require a high degree of accuracy and regulatory compliance," Gorton said.
"These credentials validate a candidate's ability to navigate complex frameworks, as well as assure employers that they possess the in-depth knowledge and proficiency necessary for success in these demanding sectors."
