Organisations in the renewable energy sector are raising pay in order to hold on to key talent, which is a sharp contrast to the pay freezes still in place at most UK organisations.
According to a study by Hay Group, which polled 25 HR professionals at 20 major renewables organisations, 73% of employers reported concerns about retaining key talent this year. Only one in five (21%) are offering cash or non-cash incentives to differentiate themselves from the competition.
Gavin Brown, reward information consultant at Hay Group, said: “Even during a very difficult economic period, growing sectors like renewables are defying the rest of the employment market by increasing pay as companies try to establish themselves as market leaders.
“The relatively small talent pool of employees and the competition to attract and retain expertise within the sector has created an employee driven salary market in which organisations are paying what they have to in order to attract the right candidate.”
Read more articles on pay