The digital sector faced numerous challenges in 2022, recovering from global restrictions, experiencing talent shortages, enjoying a surge in activity and hiring, and then economic downturns created a difficult landscape to navigate.
However, as we’ve seen time and time again, this industry is nothing if not resilient. Looking to the months ahead, we’re excited about the opportunities and challenges that await us…
Key findings from our 2023 Salary and Benefits Report:
- 57% of respondents are considering a career move in 2023
- Salary remains the primary consideration for job seekers (71% of respondents), but a positive work environment, opportunities for career growth, and commitment to diversity, equity, and inclusion are equally crucial in retaining top employees
- 41% of businesses cite a recession/cost of living crisis as the biggest threat to their bottom line
- 46% of women surveyed received a pay rise last year, compared to 54% of male respondents, with a significant pay gap of £16,525 between men and women representing a 22% disparity in earnings
- Only 9% of respondents found their role through a direct application or contacts from a company’s internal team, while 33% found their next role through a recruitment consultancy
- 1 in 2 businesses performed better than in previous years, with 35% remaining about the same and 15% experiencing worse outcomes
- 46% of female respondents reported receiving a pay raise last year, compared to 54% of males
- 33% of freelancers prefer to work as a limited company, 23% opting for an umbrella arrangement, 19% choosing PAYE, and 16% working as a sole trader
- 1 in 2 job seekers in the digital sector want remote working options, and flexible working, medical or dental healthcare, and remote working were the top three benefits across the sector
- There is a disparity in earnings between genders and also in bonuses, where 63% of men received a bonus last year versus 51% of women
Download the full report here
Hiring and Retention
In Europe, the UK, and North America, the job market across the digital sector is highly competitive, with a staggering 57% of respondents considering a career move in 2023. While salary is still the primary consideration for job seekers, it’s not the only factor that influences their decision. According to the survey, a positive work environment, opportunities for career growth, and a commitment to diversity, equity, and inclusion are equally crucial for job seekers.
A poor work environment or company culture is the second most significant reason for someone leaving their role in the digital sector. This indicates that businesses need to prioritize creating a positive work environment and a company culture that supports employee growth and development.
When it comes to finding their next role, job seekers in the digital sector are most likely to use a recruitment consultancy or LinkedIn. This underscores the importance of having a strong brand presence and engaging with potential candidates on social media.
The survey also shows that flexible working, medical or dental healthcare, and remote working are the top three benefits that job seekers in the digital sector are looking for. Companies that want to attract and retain top talent need to offer these benefits and be flexible in how they structure work arrangements.
Contracts and Freelance Market
