With huge demand for housing and a growing emphasis on the private
rented sector heating things up even more, housebuilders are willing to pay big
money for skilled employees. This year’s housebuilders’ salary survey finds
that wages and bonuses are both on the up. But how long will it
While these types of surveys can never be one hundred percent accurate due to the widely differing salary packages offered by private and public, large and small companies, it gives an interesting insight into regional variations and offers an excellent tool for salary benchmarking.
- Please CLICK HERE to view the 'published survey' .
- Please CLICK HERE to view the 'raw data' with all the detail you need.
2015 has seen an increase across all areas of the residential sector including basic salaries, bonuses, land acquisition, unit production, job opportunities and market confidence.
The shortage of suitable talent remains prevalent and continues to widen and when asked "Please indicate where you feel there is a gap in experience and skills within your organisation ?” the response was universal with shortages across all disciplines, however especially prevalent within 'commercial' (32%) 'land & planning' (42%) and 'sales & marketing' (45%) being the highest.
Improved market conditions combined with the shortage of suitable candidates have seen directors salaries and bonuses increase across the board. When asked “Which of the following benefits does your company apply to retrain staff ?”, an increase in basic salary was at the top of the list with 83% whilst introducing / improving annual bonuses came second with 57% (answers to this question were presented in multiple choice). On the flip side, when asked “Which of the following reasons for leaving your company have been sited within the last 12 months ?”, basic salary came in at 61% with only promotion presenting a higher return with 66% (answers to this question were also presented in multiple choice).
Beyond the giddy headline pay figures, the survey also throws light on several significant shifting dynamics within the sector. Among them, that directors would now much rather work for a privately owned developer than a PLC; that skills shortages and persistent problems with the planning system could yet stymie the sector's growth; and that the private rented sector (PRS) is tipped as the sub-sector most likely to see growth outside the top ten house builders.
The challenges associated with the residential sector and also wider economy stay fresh in our mind however with improved market conditions and a window of opportunity for us to 'make hay while the sun shines', the outlook for 2016 is positive with confidence in the new build housing market at an all-time high.
Click here for the link to Building magazine & the article appears here (registration required).
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