Mercer’s Remuneration Sentiment Index measures human resources (HR) professionals’ outlook for Australian remuneration and the jobs market.
The remuneration sentiment index score for October is 33.8%. This represents an increase of 32 percentage points compared to the September figure and puts the sentiment index back in line with the 12-month rolling average. This figure indicates the sentiment around remuneration budgets remains optimistic. In October, 5.9% of our client panel reported that sentiment about the remuneration and jobs market (within their organisations) was worse than the last six months, with 58.8% reporting it was the same and 35.3% feeling it was better.
When considering the overall remuneration and jobs market, responses indicated that 47.1% of participating organisations reported that sentiment was better than the last six months, 52.9% felt it was the same as the last six months, and none of the respondents reported that sentiment was worse than in the last six months.
The third question in Mercer’s remuneration sentiment index relates to the outlook for the future, with poll participants being asked whether they expect (their organisations’) remuneration budgets, hiring policies and/or overall sentiment about the jobs market to be better than, the same or worse than the last six months. The results showed that 58.8% of participants expect the situation to remain the same in the next six months, 35.3% of respondents anticipate it will be better and 5.9% of the respondents reported the situation will be worse.
Mercer clients were polled in October 2021 using three questions related to how they viewed the remuneration and jobs market for the previous six months, and then how they expect the next six months to be. Responses to these questions were collated and used to calculate the overall remuneration sentiment index.
The questions asked are presented below:
Disclaimer: While every care has been taken to ensure the accuracy of the information, no warranty is given in respect thereof.
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