South Africa Talent Trends
A significant disconnect between what South African workers expect from their employers and what their organisations are reasonably able to provide is revealed in this quarter’s Global Talent Monitor.
Despite stalled growth and an economy that is in the doldrums, expectations around compensation remain high. In fact, South Africans expect significant increases in base pay and bonuses this year at 7 percent and 8 percent respectively. This is in stark contrast to declining expectations globally.
The gulf is also clear in employees’ outlook on the labour market. Perceptions of job opportunities are poor and levels of joblessness are high, yet more workers are on the lookout for new positions and more money. A significant drop in levels of intent to stay suggests these workers are more likely to jump at the first opportunity that comes their way – particularly if a higher salary is on offer – before speaking to their boss or considering their career path.
Whilst it’s important for employees to be positive about their personal prospects, the expectation-reality gap is a cause for concern. Employers need to reset expectations around compensation and career opportunities before performance and engagement levels drop further. As such, organizations must put their communications strategies around pay under the microscope to set them back on track.