This article is from the Australian Property Journal archive
THE property industry enjoyed a very good year in 2016 with salaries continuing to rise, well above the general workforce and CPI, according to the Avdiev Group.
The Avdiev Property Industry Remuneration Report March 2017 found 89% of companies surveyed have reported stable conditions or doing well, whilst 11% said they are not doing well, and none reported doing very badly.
The companies reported strong growth, increased turnover and profit in the last 12 months.
The Avdiev report found that property salary rises continue at a steady pace at 3%, well above the general workforce.
“You can’t keep the property industry down,” managing director Rita Avdiev declared.
“Despite the uncertain political environment of 2016, the midyear pay rises were above the 2.2% granted to the general workforce and 1.5% CPI rise.
“Property pay is continuing to do well, outpacing the general workforce,” Avdiev said.
“The Australian economy is improving despite previous negative predictions. Most market sectors are doing well, companies report strong growth, increased turnover and profit.
“Those market sectors with patchy business results have been modest in their pay increases, but no subscribers report pay cuts to their staff. More companies intend to give catch up increases and rises to retain key staff than the previous year,” she added. “A pent up push for pay rises follows good economic news in early 2017,”
Avdiev said built environment consultant juniors – young architects, designers, planners and project managers have done best and received a 4.5% boost in their pay.
“Are they the super geeks, the next generation of digital experts who speed up business operations and client communication?
“Overall, the senior roles in each sector have done well, but not as high as the juniors. They will be keenly watching social media for new opportunities and weighing up long term loyalty versus a substantial pay rise and a promised new challenge,”
“Subscribers intend to reward their teams in line with their business performance and individual staff achievements. This year it’s not only about core technical or professional skills, personal attributes that create cohesive teams and enhance company reputations are also highly valued,” she continued.
Avdiev also said that digital technology has been enthusiastically adopted by the industry and job structures are changing, with digital teams introduced to supplement core professional skills.
“Digital savvy is not the only valued employee attribute, cultural fit, honesty and integrity, communication skills are the top three reported. Digital tech aids fast business interaction with clients, improved efficiency, working remotely,”
According to the report, many new positions have been created and 50 of them have been added to the report.
“New technology speeds up the rationalisation and restructuring of back room jobs. But staff are pushing for stability and potential employees reject the new gig economy, insisting on full time, permanent positions to change jobs,”
Avdiev said a rapidly changing business scenario and market fluctuation make pay predictions difficult for employers.
“Subscribers intend to reward their teams in line with their business performance and individual staff achievements. This year it’s not only about core technical or professional skills, personal attributes that create cohesive teams and enhance company reputations are also highly valued.
“At this stage forecasts for future reviews are modest, but pent up pay pressure, constant headhunter activity and employee mobility will ensure that key skills and attributes are well rewarded in the future.” Avdiev concluded.
Australian Property Journal
