Less than half of the IT and technology workforce in the UK feel their current pay adequately rewards their responsibility, according to new research Randstad Technologies, the specialist recruiter.
In the survey of 2,000 UK adults[i], 47% of employees in the IT sector stated they are happy with their current level of remuneration. While this is less than half the IT workforce, it is a higher proportion than the national average of 43%.
Despite feeling pay is too low, three fifths (60%) of IT workers describe themselves as happy with their job, this compares to 61% across the entire UK workforce. The happiest workers are those working in Utilities (96%), while those working in Insurance are the happiest with their pay (90%).
In additional research carried out to determine the UK's most attractive employer as part of the Randstad Award[ii], 7,000 UK adults said competitive pay and benefits is back as the most important requirement of a new employer, while job security, the top factor for the past three years, has fallen to third place. This reversal mirrors the improvement in the UK jobs market reported in the most recent Government statistics.*
In 2012, 27% of people said long-term job security was the most important factor in choosing to work for a specific company – more than any other issue. But this has now fallen to 16%, the lowest it has been in three years. Meanwhile, 18% of respondents said a competitive salary and employee benefits was the most important factor in picking an employer, compared to only 11% in 2012 and 12% in 2011.
While those working in IT & technology were less content than the national average, the general public saw IT and telecoms firms as some of the best UK employers to work for – with two companies featuring in the top 20 employers.
Mike Beresford, managing director of Randstad Technologies, said: "It's been a tough job market in recent years with confidence on the wane. And that's been reflected in people's priorities – salary packages weren't as important to potential employees as the security of their position. Over the course of the last twelve months, that's changed dramatically and the UK's workforce appears much more bullish. In 2011 and 2012 the number one priority for people was job security – now it's salaries and benefits. Tech employees certainly aren't the least happy in the UK, but employers must redouble their efforts if they are to attract and hold on to skilled employees as the sector grows."
"For instance, roles in IT infrastructure are expected to see a 10% increase in salary. However, that's only half the battle. Last year Tech employees felt they were working the equivalent of one and a half jobs, and it's clear teams are still as lean as possible. While cost is still a concern, the best employers make sure employees don't feel stretched to breaking point. Workload management, alongside professional development, should be high on an employer's agenda for maintaining morale."
[i] Survey of 2000 UK adults conducted by Canadean Research between 8th and 11th February 2013
[ii] Research of 7000 UK adults conducted as part of the 2013 Randstad Award