Advertised salaries up 7% YoY for L&D managers, according to Reed HR
Advertised salaries in the human resources sector rose faster than the national average last year, according to new data from Reed Human Resources.
The analysis of more than seven million jobs posted since the start of 2015 found that advertised salaries in the sector grew by 2.6% since the end of 2016 – higher than the national average of 2.3%.
Human resources businesses are advertising - and willing to pay - higher rates to secure new talent than in previous years, and this increase in advertised salaries is outstripping other industries such as technology, hospitality and leisure and marketing.
The data from Reed Human Resources highlights that certain roles have seen the biggest increases. Advertised roles for learning and development managers experienced a 7% hike in salary since last year. This was followed by a 6% increase for recruitment co-ordinators and a 5% jump for HR project managers. In total, the number of jobs posted for the sector increased by 5% since last year showing that the industry continues to grow.
Chris Adcock, divisional director at Reed HR, said, “Staff turnover costs companies £4.13 billion each year, so, companies want to recruit the best HR talent to help cut these costs. As a result, hiring managers are asking their boards to commit more money towards recruitment of new staff, and that is reflected in the advertised salaries.
“What this data shows is that, during 2018, those companies which are struggling to attract the right talent will need be ready to increase the salaries they offer.”
HR workers in London have felt the most benefit with the biggest overall salary rise of 4.2%, compared to the national average for the sector of 2.6%. However, those workers in the North West and the East Midlands follow closely behind with pay increasing by 3.1% and 3.0%, respectively.
Adcock added, “As with many industries, HR is going through a period of unprecedented change.
“As already seen in other sectors, AI and robotics will naturally replace some roles within the industry. However, companies and candidates know that where there is change there is always opportunity. The key is to embrace the technological revolution. Humans will always be required to operate this innovative and complex technology and we aren’t going to see AI and robotics technology in the workplace overnight.
“Many companies are looking to invest in people with the skills needed to adapt to this new order. HR professionals will need to focus upon demonstrating a strong understanding of how new technology can work effectively and streamline processes, along with varied experience and, as ever, strong people management skills. HR professionals with a combination of these skills will be in great demand in 2018 and beyond.”
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