South African companies on hiring sprees are becoming more employee-centric, says professional services group PwC, which is leading to a permanent shift in how they determine salaries and benefits.
The group published its latest Executive Directors Report for 2022, outlining how companies are restructuring working arrangements and remuneration packages to retain talent, coming off the need to balance strategic and operational goals with shifting employee expectations.
“Employers no longer have the upper hand, relying simply on increases in guaranteed pay as their retention strategy — employees of today seek higher levels of work-life integration, and this is a process of negotiation,” it said. Companies should expect employees to have more bargaining power and negotiate hard for what they now see as minimum requirements. Benefits such as career growth and upskilling opportunities, competitive packages and perks are becoming the norm.
PwC’s findings echo the words of Shargani Pillay, remuneration and benefits manager at tobacco company JTI. Speaking at an Xpatweb conference, Pillay said to retain valuable employees, companies would need to incentivise staff to not only stay with the company but stay motivated to work According to the group, the majority of employees who worked remotely as a result of the pandemic say that they are more productive and have grown accustomed to better quality and integration of work and life.
Digital platforms can further help prevent proximity bias when it comes to promotions. Some systems offer helpful reporting and analytics dashboards to gain insights into matters, it said.
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