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The marketing industry is undergoing rapid transformation, driven by technological advancements, shifting consumer behaviours, and economic fluctuations. As a result, hiring managers and marketing professionals alike face a complex hiring landscape with evolving salary expectations, changing work dynamics, and increasing competition for top talent.
To navigate this dynamic environment, understanding the latest trends work with them is essential. By staying abreast of market rates to help benchmark competitive salaries, candidate preferences, and emerging trends, organisations can make informed decisions, attract top talent, and build high-performing marketing teams.
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The pandemic accelerated the shift towards remote and hybrid work, a trend which has continued, yet there remains a gap in expectations between employer and employee when it comes to flexibility.
Many employers are starting to ask for employees to return to four days in the office. Comparatively, candidates are looking for two to three. And while money still reigns as the top priority – with 57% of marketers citing salary at their top reason for moving jobs – flexibility is up there in the top requirements when marketing professionals look to make a move:
This clear preference for flexibility underscores the need for employers to review their work models when looking to attract and retain top talent. And yet, our Talent Trends report revealed that 37% of people currently working in a hybrid arrangement are working more in an office than they were 12 months ago. 49% of which say it’s due to company policy changing or becoming stricter.
Our research shows that forcing employees to come into the office more often can lead to higher turnover. In fact, 53% of those who are being required to come in more often are actively looking for new jobs.
With flexibility evolving beyond a perk into a priority, for employers looking to get people back into the office, striking a balance between office presence and autonomy will be key. Learn more about encouraging office presence positively by incentivising behavioural change.
Salaries are on the rise, particularly for in-demand roles like digital marketing, e-commerce, and content marketing. Therefore, candidates are increasingly confident in their value with a notable 63% of marketing professionals looking for a significant salary increase in their next move.
Rebecca Moore, Associate Director at Michael Page, highlights the cautious approach of both candidates and employers:
Offers and acceptances have taken significantly longer to secure in the last 12 months, due to lack of confidence from candidates and clients to move.
This increased scrutiny has led to longer hiring processes and higher salary expectations.
Economic uncertainty can influence hiring decisions and salary expectations. During periods of economic downturn, companies may be more cautious in their hiring and compensation practices. However, in-demand skills and expertise will continue to be sought after, even in challenging economic conditions.
Employers are increasingly demanding more diverse candidate shortlists – spoiler alert: Michael Page’s DE&I Client Solutions can help with this!
Organisations and team leaders are increasingly recognising the value of diverse teams in driving innovation, creativity, and better understanding of their target audiences. By prioritising diversity and inclusion in their hiring practices, organisations can not only meet client expectations but also gain a competitive edge. Learn more about strategies to help you practice diversity, equity, and inclusion in the workplace.
To stay ahead of the curve and make informed hiring decisions, download Michael Page's Salary Guides for in-depth insights into salary trends, market rates, and best practices.
By understanding these key trends and leveraging the insights from Michael Page's Salary Guides, organisations can make informed decisions, attract top talent, and build high-performing marketing teams.
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