Salary transparency is a top priority for UK tech talent, according to new research by CWJobs. Nearly three quarters (72%) of tech workers are highly sceptical about companies which do not give an indication around salary in job ads, and more than half (57%) would avoid applying for a role which simply described pay as ‘competitive’.
These findings are backed up by CWJobs research which identified that missing salary information is the biggest red flag in a job ad that would put tech workers off applying for a role (43%). This was followed by no salary listed (43%), unclear or very broad job description (30%), unrealistic experience required (24%), no location listed (24%), and mention of shift work or being ‘on call’ (21%).
Salary was the top reason tech workers wanted to pursue a career in the industry (40%), ahead of a passion for technology (34%) and the ability to work remotely (31%). Employees in the sector continue to be focused on financial reward, targeting a 12% pay increase over the next two years.
Dominic Harvey, Director at CWJobs, commented: “The debate over including salary information in a job ad is not a new one, and a quick look at any jobs board will show the different approaches. From the perspective of jobseekers, however, there is no debate. For them, advertised salary is extremely significant. Ads that do not include a salary, or that claim to have the dreaded ‘competitive’ salary, generate immediate scepticism for those on the job hunt.”
Employers continue to lack transparency
The research revealed that tech employers are failing to live up to this expectation. Just one in five (20%) respondents said their company provides transparent pay. Further, only a third (36%) of IT decision-makers confirmed their company includes salary detail in job adverts.
The lack of transparency comes despite most employers making efforts to ensure fair and competitive salaries, with nearly three quarters (72%) agreeing a regular salary benchmarking process is important in attracting and hiring new talent.
Harvey continued: “By omitting salary information from their ads, companies are losing candidates at the first hurdle. Applicants want to know those key, practical pieces of information to narrow down their search. Businesses that are upfront and transparent will have the most success in attracting candidates, meaning they will have a wider range of talent and be able to hire the very best.”