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Competition for talent is expected to escalate in 2012, according to Robert Walters’ latest global salary survey.
The annual survey, released on 24 February, has revealed cautiousness amongst firms and organisations as they await the outcome of the current global economic uncertainty, leading to a slow start for 2012. However, restrictions on recruitment are likely to intensify the focus on retaining top talent.
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“In 2011 we saw a recovering economy create more employment opportunities for legal professionals, especially in the telecommunications, construction and engineering sectors, leading to a shortage of quality candidates,” said Robert Walters legal manager Ryan Webster.
“As the demand for legal professionals continues to grow this year, organisations will further focus on retention strategies and more attractive remuneration packages.”
Overall, salaries are expected to remain steady, however the growth sectors of mining and resources will put pressure on other employers to remain competitive and pay a premium above the rest of the market. Slight increases are expected across both in-house and private practice.
