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Monday, 02 December 2019 10:36

AIIA says IT salary rises to slow, firms told to retain staff

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Ron Gauci: "We expect more IT professionals to receive a pay rise in 2020 than last year, but the rate of salary increase is likely to be slightly less." Ron Gauci: "We expect more IT professionals to receive a pay rise in 2020 than last year, but the rate of salary increase is likely to be slightly less." Supplied

IT companies have been advised to hang on to their staff in the new year, with the Australian Information Industry Association warning that attrition rates will stay high unless firms take steps to retain their employees.

The AIIA, the main lobby group for the industry, predicted that average salaries in the sector would grow in 2020, though at a lower rate.

The AIIA based its advice on the latest bi-annual Aon Survey of Salaries and Remuneration Packaging in the IT industry.

“As organisations look to appropriately remunerate staff, the data produced in the Aon Salary Survey provides employers with critical information to make evidence-based, informed and data-driven decisions,” said AIIA chief executive Ron Gauci.

Salaries are predicted to grow at 2.5%, a 0.4% fall from the previous Aon report.

Said Gauci: "We expect more IT professionals to receive a pay rise in 2020 than last year, but the rate of salary increase is likely to be slightly less.

"In new industries such as robotics, vehicle automation and cyber security, skill shortages will continue to be an issue, especially in the growing area of AI.”

He said high staff attrition rates were a concern and employers should look to retain their workers.

"The AIIA Aon Salary Survey provides vital insights into how to retain valuable team members, allowing organisations to stay ahead of the curve as the employment market changes," added Gauci.

“Staying informed of market movements is critical to ensure companies’ reward strategies are meeting business needs whilst minimising costs. The money spent on a remuneration report subscription can be made back many times over in savings through optimising total reward spend and retaining key talent.”

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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