Employee attraction and retention plague organizations around the globe
Organizations are struggling to fill key roles at every level
Voluntary attrition rate | |
---|---|
Brazil | 6% |
China | 13% |
United Kingdom | 13% |
United States | 15% |
Key roles for which employers will be recruiting in the next 12 months
Technical Skills Trade | |
---|---|
Brazil | 39% |
China | 65% |
United Kingdom | 54% |
United States | 38% |
Sales | |
---|---|
Brazil | 54% |
China | 60% |
United Kingdom | 49% |
United States | 69% |
Information Technology | |
---|---|
China | 25% |
United Kingdom | 27% |
United States | 27% |
2022 saw the highest salary budget increases in nearly 20 years
Given the fundamental role salary plays in an organization’s ability to attract and retain talent, employers plan to carry this adjustment through to 2023 – yet remain cautious about how and when they allocate the overall budget.
2022 Overall Actual Salary Increases (Median) | 2023 Overall Forecasted Salary Increases (Median) | |
---|---|---|
Brazil | 8% | 8% |
China | 6% | 6% |
United Kingdom | 3% | 5% |
United States | 4% | 5% |
Additionally, organizations leveraged bonus payouts in 2022 and, again, are on track to the same in 2023
22%: Average 2022 projected variable payout for middle managers and professionals.
Brazil | 23% |
---|---|
China | 16% |
United Kingdom | 19% |
United States | 18% |
Organizations have taken or are considering taking the same three actions
Compensation review of specific employee populations | 51% |
---|---|
Targeted increases for specific employee populations | 45% |
One-off cash payments (e.g., retention bonus, lump-sum payment or allowance) | 44% |
Top 3 highest-paid functions across all industries at Professional Level 3 (P3)
Brazil | China | United Kingdom | United States | |
---|---|---|---|---|
Clinical Development | PAC Market Access |
PAC Market Access |
IT Development |
|
Drug Discovery Research | AEM Data Science and Business Intelligence |
PMA Medical Affairs |
Product Development |
|
IT Development | ARS Research |
ALG Legal |
Legal |
Median pay mix for Manager level 3 (M3) in the Data Scientist function
Brazil | China | United Kingdom | United States | |
---|---|---|---|---|
Base (%) | 78% | 83% | 76% | 76% |
Bonus (%) | 15% | 17% | 14% | 14% |
LTI (%) | 7% | - | 10% | 10% |
There are a handful of roles that will receive the highest pay premiums across regions
Role | Pay premium (Median, in % of base salary) | |
---|---|---|
APAC | AI/machine learning frameworks | 15% |
EMEA | AI/machine learning frameworks | 20% |
LATAM | Cryptography, distributed ledger development, smart contract programming | 15% |
NA | Cryptography, distributed ledger development, smart contract programming | 15% |
56.3% overall increase in the number of data submissions to our Pharmaceutical and Health Sciences Compensation surveys
Trends that will drive 2023 rewards decisions
Title | File Type | File Size |
---|---|---|
2023 Pay trends in the Pharmaceutical and Health Sciences industry | .1 MB |