As we head further into 2023, the system engineering profession is facing a serious skills shortage.
The need for new skills and expertise is increasing faster than the rate at which people are acquiring them, creating an imbalance in supply and demand.
Inflation rose by 10.1% in the 12 months to January 2023, however, our survey results show that only 16.4% of respondents received a pay rise to match inflation with 21.8% not receiving a pay rise at all.
To keep up with the talent shortage, organisations must ensure they are offering the right remuneration to attract and retain talent, especially with 73% of respondents considering a career move this year.
To address this shortage, companies should consider more compelling recruitment efforts and provide consistent and thorough training and development opportunities for new hires with a benefits package that focuses on wellbeing. Rather than focusing solely on short-term needs, businesses should seriously consider the possibility of new talent and invest in their growth and development.
The ranges given in the salary survey are intended to be a guide only. Local conditions, such as industry density, demographics and the local economic environment are all important factors. We are also proud to offer a free bespoke salary benchmark service (without obligation). This will take into consideration the specifics of a vacancy, the size of the organisation and team, the local economy, and a competitor analysis. This is undertaken independently by our in-house research department and specialist consultants.