The Great Elation: Majority of Brummies are happy in their current job

As part of its annual salary guide research, Reed analysed more than 21 million job adverts and asked 5,000 UK workers a range of questions about their salary and work life, which homed in on regions such as the West Midlands. 

“We know that many businesses across the West Midlands are struggling to meet rising costs and taxes, which has resulted in a loss of confidence in the job market,” explains Theresa Robinson, senior regional manager for Reed’s West Midlands office.

“Businesses are potentially having to think about cutting costs, curtailing investment, creating redundancies and stalling recruitment. As such, the market has shifted so we are seeing more candidates and fewer jobs available. The hiring process is becoming more in-depth and businesses are having to work hard to justify their spend on recruitment.

“Birmingham and its surrounding areas are well-known for manufacturing, an industry that’s very susceptible not only to rising staffing costs, but also the increasing cost of materials and supply chain surges. Because of these pressures, many businesses are becoming more risk-averse when it comes to onboarding new staff.

“With that in mind, it’s quite encouraging to see that many workers in the West Midlands feel happy at work and are satisfied with their salaries, providing some respite for businesses that are still navigating these economic challenges.”

Economic inactivity 

The research also found that only 13% of workers in the region are actively looking for a new job. This could be due to uncertainty in the market and the want for job security or reflect a lower number of vacancies, as businesses remain reluctant to invest in hiring due to rising costs – which rings true with the fact that nearly a third (31%) would be open to a new job if they were approached. “This statistic demonstrates the value of using recruiters such as Reed to undertake the search for candidates on their behalf,” says Theresa. “With many workers reticent to actively look for roles in this period of uncertainty, having a specialist recruiter seek out candidates who are the perfect match can streamline the process and save time and money for businesses.”

With nearly a third of workers open to new opportunities, it highlights the importance of businesses putting effort into retaining their current workforce. Despite many feeling happy with their salary, just over a quarter of employees are unhappy – with the top reasons being that their salary hasn’t risen with the cost of living (56%); their job and industry aren’t well paid (42%), and respondents believing they do more work in their role than they get paid for.

“It’s crucial for employers to remain mindful that a substantial number of workers feel undervalued, especially when so many claim to be putting in extra hours at their jobs” adds Theresa. “Inflation and economic uncertainty go both ways, so while salary satisfaction is a crucial issue that businesses need to be mindful of, making sure employees feel valued is vital, and that runs much deeper than just salary increases.”

There are other ways, outside of salary increases, for businesses to make workers feel valued, with almost a third saying that additional benefits are key. Thirty-two per cent want recognition for their achievements, 21% simply want more thanks from leadership, 20 per cent want more flexible hours, and 18% want clearer career progression.

All work, not just pay

If businesses are struggling with employees unhappy with their salary, Theresa offers the following advice: “Employers must recognise that while competitive salaries are important, they aren't the only way to show employees they're valued.

“Salary is just one part of overall compensation. Perks such as flexible working, health benefits, pension contributions and professional development opportunities can add significant value or help you maintain a better work-life balance. And when employees feel genuinely appreciated and supported, their engagement and commitment naturally follow.”

Reed has produced a suite of 10 sector-specific salary guides, which include an in-depth analysis of its survey with 5,000 UK workers, asking for details of their salary, benefits, roles and responsibilities. Additionally, the survey captured information about the industries the professionals work in, their working hours, overtime, and overall job satisfaction.