If salary rises are a measure of economic confidence, then the recent increase in salaries suggests that marketing departments are starting to feel more confident in the future. Similar to many other industries, the last couple of years had seen a freeze in marketing salaries and bonuses, but this is gradually starting to change.
A number of employees have gone through salary reviews and seen their salaries increase and their bonuses reinstated. This change in fortune also applies to the full benefits package, where we are seeing jobseekers really comparing benefits packages and looking to negotiate and ask for more where they can.
As confidence levels rise, there are more roles coming onto the market, and this is allowing jobseekers to feel more confident in demanding salary hikes. Six months ago, it was not uncommon for employees to consider a move for a salary package the same or even less than their current package. This is no longer the case, and in fact, many employers are having to offer more in order to persuade those already working to move.
This is particularly the case in the retail sector, where we have seen a marked increase in digital marketing roles. Many organisations had planned to increase their digital roles but had to put plans on hold during the downturn. Now that the recovery is in sight, these same companies are keen to recruit again, particularly since the nature of the role will lead to greater cost-efficiencies across the marketing budget, and within the retail sector, the online market is a key channel for communicating and engaging with customers.
