Facilities management employees look set for a pay rise as the skills shortage intensifies the fight for talent, a new Hays report predicts.
Eighty-two percent of facilities management employers will increase salaries in their next review in the 2022-’23 financial year, according to the Hays Facilities Management Salary Guide 2022. Of them, 59 percent say the skills shortage has forced them to offer higher salaries than otherwise planned.
Hays says the skills shortages have created a ‘once-in-a-career’ market, where more FM professionals will receive a pay rise than last year, 52 percent feel confident to ask for a pay rise and 45 percent of employers intend to increase FM headcount.
Ninety percent of employers are experiencing a skills shortage, says the report.
“This is fuelling a once-in-a-career market,” says Austin Blackburne, regional director of Hays Facilities Management. “Previously camouflaged by skilled migration, and further impacted by headcount growth, skills shortages have reached a level unmatched in our years in recruitment and sparked deliberate salary increases from employers.”
Only 23 percent of FM employees are happy with their current pay and an uncompetitive salary is is the top factor motivating 57 percent of job searches.
While a wage rise may be on the cards, don’t get your hopes up too high: only 18 percent of employers plan to increase salary by more than three percent, and 64 percent will increase salaries by less than three percent. Seventy-six percent of FM professionals Hays spoke to feel their performance and the demand for their skills merit an increase greater than three percent.
“While both the value and extent of salary increases is rising, employees’ expectations are growing faster,” says Blackburne. “In a job-rich, candidate-poor market, they feel more assured of their worth and have prioritised a pay rise.”
Uncompetitive salary ranked as the top factor motivating job searches, ahead of poor benefits and negative mental health and well-being impacts.
Hays recommends recruiters also consider benefits, up-skilling, career progression, purpose and good relationships when trying to stand out as their preferred candidate’s first choice.