A NEW study has shown that workers in Western Australia are at the top of the pack with the best salary increases in the country.
Based on the responses of more than 500 large companies nationwide, the Australian Institute of Management’s national salary survey showed that this year’s average pay increase for large companies in WA was 4.7 per cent, as compared to the national average of 4 per cent.
The momentum is expected to continue over the next 12 months, with large companies in WA predicting an increase of 4.5 per cent, well above the forecast national average of 3.8 per cent.
However, the survey indicated that attracting and retaining staff, while containing employment costs, would be a key challenge for businesses over the next 12 months.
In addition, low and falling unemployment levels over the past year had contributed to 50 per cent of large companies reporting difficulties in recruiting some staff, compared to 36.9 per cent in the previous year. Around two-thirds of large companies indicated that they would consider hiring staff from overseas to tackle the problem of skills shortages.
