Salaries, benefits and the impact of the pandemic

For many, remuneration has been a bit of a see-saw ride in the last 18 months. From pay cuts to sign-on bonuses, from furlough and job losses to skilled labor shortages ….. market volatility and uncertainty have been as much present in the field of salaries and benefits as they have in broader business turbulence.

So what does this mean to commercial professionals – those in the fields of legal, supply management, procurement, sales contracting and contract management? Have those who experienced cuts seen their salaries restored? Are employers treating ‘work from home’ as a benefit? Is there evidence that labor shortages are reflecting in wage increases?

World Commerce and Contracting is renowned for keeping its members up-to-date with the latest trends and developments – and salary data is no exception. We are seeing growing divergence across industries and, to some extent, between job roles. In some cases, we also see greater opportunity for employees to tailor their package with a more flexible mix of salary and benefits, especially in areas such as home versus office working.

If you want insight to how your pay and conditions compare to others, or to where the best remunerated opportunities lie, participate in the 2021 Salary & Benefits Survey (please note, this year the data is being gathered at a country level and at this time surveys are open for Australia, Canada, New Zealand, the US and the UK).