New research from recruitment firm Robert Half UK shows that more than half of UK employees plan to ask for a salary increase this year.
However, UK office workers are the most likely in Europe to look for a new job if they request a payrise but are turned down.
“There can be many factors behind an employer’s decision not to award a payrise, including the economic cycle of the business or the need to do a complete performance review of all employees rather than one individual. It is worth considering the other aspects of your remuneration package, whether that’s more flexible hours, additional annual leave days or a sideways move into a role that will gain you more experience as these options could be just as rewarding,” said Phil Sheridan, managing director of Robert Half UK.
While a quarter of employees in the UK would seek alternative employment if their boss said no to a higher salary, only 11 percent of employees in Germany and Belgium, ten percent of employees in the Netherlands and five percent of employees in France would find another job.
Only 36 percent of UK employees would wait for the next performance review for a salary increase, compared to their more patient equivalents in France, where 62 percent of employees would sit it out until the next review, Germany (52 percent), Netherlands (43 percent) and Belgium (40 percent).
One strategy that employees can use to secure a result even when a higher salary is refused is to request something else, such as a different role, more company perks or share options. Yet UK workers are only slightly more likely to ask for alternative rewards than they are to look for another role.
“From an employer’s point of view, it’s important to keep a regular eye on salary and other remuneration trends to ensure that your top performers are being rewarded in line with industry benchmarks. Reviewing your employee’s remuneration package alongside their career development and potential progression within the business will support retention efforts,” said Sheridan.