Half of UK workers plan to ask for pay rise in next 12 months

(2 minutes to read)

Over a third (34%) of workers have delayed asking their boss for an increase for fear of rejection.

It takes an average of four months for employees to work up the courage to ask for a pay rise, while 14% of workers have been preparing to ask their boss to increase their salary for over six months.

The research, collected by recruitment specialist Robert Half, revealed that record employment levels in 2019 have continued to support the emerging buyer’s market for professionals with in-demand skillsets, placing upward pressure on salaries, with highly skilled employees becoming increasingly impatient for a pay rise.

According to the report, men are more likely than women to ask their boss for a salary hike (56% versus 44%) while workers between the ages of 25 and 34 are the most likely to ask for a pay rise (58%).

Interestingly, the average UK worker intends to ask their boss for a six per cent pay rise, finds a recent report.

This would equate to an increase in the average weekly wage from £585 to £620 for a full-time employee and an uptick from £197 to £209 for a part-time employee.

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Workers were asked why they have delayed asking for a pay rise:

  • Waiting for a performance review (46%)
  • Worried they’ll say no (34%)
  • Difficult to ask for one in my workplace culture (difficult to ask) (24%)
  • Not enough self-belief / confidence (23%)
  • Embarrassment (18%)
  • The company cannot financially support it (13%)
  • Difficult to find the time (12%)
  • I have not been putting it off (10%)

Matt Weston, Managing Director, Robert Half UK commented, “Record employment rates in 2019 have placed added pressure on employers. The war for talent shows no sign of slowing down and talented employees will be fielding multiple job offers.

“Therefore, employers will need to consider their options when they’re retaining top talent. As our 2020 Salary Guide highlights a competitive remuneration package is the cornerstone to any offer, but employees are also receptive to other benefits. Flexible working, health and wellbeing perks and training opportunities are increasingly popular with employees and should be considered as part of any offer to retain a talented member of staff.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.

Why Dolan Accountancy?

Dolan Accountancy was set up by Simon J Dolan, the man behind the well-known brand SJD Accountancy. With over 25 years experience in the contracting marketing, Dolan Accountancy has the heritage, reputation and credibility you can trust. Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £95 + VAT per month. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost. We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours.
  • Free use of Contractor Umbrella – With changes in Public Sector IR35 Legislation we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella.
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams.
  • Free Access to FreeAgent – The founder behind the multi award winning FreeAgent platform was one of Simon’s first clients, therefore it only seems fitting that we offer all of our clients access to FreeAgent, free of charge.
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year.
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status.
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative.
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few.
  • Same day payments- We offer same day payments as standard providing funds are received into our account by 9am, for no additional fee.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

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