In recent times, there has been a major effect on employment, such as within the hiring/rehiring process, an increased number of redundancies, and a lack of work opportunities. Another profound thing is the disparities in salaries across the Sales IT Industry, and how businesses are not informed or are not checking the salaries offered by their competitors. A salesperson's financial reward is one of the primary motivations for them to come to work; it is also one of the organisations’ highest costs. Here is how to ensure you’re being offered and are offering the best:
One of the things businesses need to do is a recurring salary check for the market, and this means they are able to compare salaries against similar businesses, and in turn, offer the most appropriate salaries to their employees. Another thing to ensure is that the salaries being offered are competitive, as that is what drives the hiring process. If there are regular checks, a business is able to increase the salary offered, and be in line with market averages. There are multiple ways to check market salaries, such as on the following websites: Hays; Glassdoor; Payscale, along with many more, and these allow you to compare salaries within job titles, areas, for example, and are excellent tools for benchmarking.
A way for businesses to progress and hire the most talented salespeople is to compete effectively. It is therefore important to look at how other businesses are recruiting, and what they’re offering their employees. Along with salary, other important factors that lead to high levels of employment hiring are benefits offered through the company, such as childcare, annual leave, and discounts at shops and restaurants, to name a few. Candidates also want to feel valued: if you low ball at the offer stage, candidates are highly unlikely to take your opportunity even if you re-offer at a high rate.
Within the recruitment business, especially, there has been a demand for specialised talent, but a stagnant salary offered. This has meant that recruiters are consistently informing businesses to improve salaries to increase their chances of hiring candidates, but as some won’t, then the expectations are that you will find it harder to hire than other businesses that are listening and increasing pay.
The average basic salary for IT Sales Account Manager in Birmingham is £37.5k, in London, it’s £67.5K, this gives businesses a benchmark of where they should be aiming for and shows what they’re up against.
There has, fortunately, been an increase in salaries in the last year, with 70% of people reporting this instance. Moreover, with the increased productivity, clients need to work more closely with recruiters as they know the market better than anyone and know what candidates are expecting.