Marketing salaries grow, but almost a third of employees say marketers don’t have the talent needed to hit business targets
Marketing salaries are up 2.6 per cent over 2014 to take the average wage of £41,283 and yet almost a third (31 per cent) of marketing employees say they don’t have the talent required to hit their business targets.
The skills shortfall makes for worrying reading for those companies looking to turn their marketing function into a sustainable growth driver amid tougher trading conditions. Indeed, almost three quarters of those 780 employers and employees in marketing for the Hays UK Salary & Recruiting Trends 2016 report revealed they are already concerned they will encounter a shortage of suitable applicants.
The situation is compounded by growing dissatisfaction with marketing salaries despite the increase being higher than the national average of 2.3 per cent. More than half (61 per cent) of those surveyed admitted that they plan to switch jobs in 2016 with a third citing pay as the main reason
“A huge number of marketing professionals expect to leave their jobs next year as dissatisfaction around pay and career prospects continue,” said Clare Kemsley, managing director of Hays Marketing.
“The opportunities for candidates will only increase as the jobs market becomes more fluid, along with their bargaining power around salaries and benefits, and marketing organisations will come under increased pressure to raise pay.
However, confidence in the sector is at a high and over three fifths (64 per cent) expect pay increases in the coming year. The challenge of increasing pay further to attract and retain the best talent remains and the report suggests that those who cannot raise salaries may need to focus on offering clearer paths of progression as well as investing in up-skilling their employees in order to attract and retain staff.
“Those employers who cannot provide impressive remuneration packages will struggle to attract the top marketing talent and may need to appeal to candidates by offering clearer opportunities for career progression as well as investing in up-skilling their teams instead," said Kemsley.
“This presents a tremendous opportunity for marketing professionals, who would be wise to proactively develop their digital skills now to stand out from their peers and appeal to potential new employers in the future.”