Organisations are more likely to publish information on salary ranges than specific salaries, according to research by professional body the Chartered Institute of Personnel and Development (CIPD).
Its Pay, performance and transparency 2024 report, which surveyed 832 decision-makers from the private, public and voluntary sectors, also found that 62% always or sometimes publish salary range information in external job adverts, while 38% have either not done so, though they may plan on doing so this year, never do so, or do not know.
When it comes to including specific salary information in external job adverts as opposed to ranges, only 37% always or sometimes publish particular information. Some employers publish both ranges and specific details (14%), whereas 24% publish neither.
Eight in 10 (80%) increased employees’ base pay in the year to October 2023. Voluntary sector employers were the most likely to have done so (84%), followed by the public (83%) and the private sectors (79%). UK-based organisations with overseas operations increased pay (85%), while 81% of overseas organisations with UK operations did so too. Three-quarters of solely UK organisations awarded pay rises in the last 12 months.
More than half (54%) of employers that did not increase base pay last year have no plans to do so in 2024, while 78% of those that did in 2023 have plans to make further ones this year.
A total of 43% cited the rate of inflation and cost of living increase, and changes in market pay rates, as the most important factors driving pay increases in 2024, followed by recruitment and retention pressures (40%) and employee skills (35%).
In addition, 62% said that pension information is always or sometimes included in their job adverts, with 33% of the private and 59% of the public sectors stating they advertise this. Almost one-third (30%) said it is because some only make the minimum legal contribution.
Charles Cotton, senior reward adviser for the CIPD, said: “As an important part of the remuneration package, it makes sense to highlight the workplace pension when posting a job advert. Yet while most employers in the public and voluntary sector have realised this, it is surprising that so few private sector employers have yet to grasp this.
“Pension transparency is crucial, not only in terms of the employer potentially being able to attract a wider pool of applicants, but also in raising the profile of pensions in the labour market so that employees can make better decisions and improve their likelihood of enjoying a better income in retirement.”
