BUSINESS NEWS - UK – Most jobseekers are less likely to apply for a job without an advertised salary: Reed
Posted 10th March 2022 • Written by staffingindustry.com • • • • •
Four in five, or 78%, of jobseekers in the UK are less likely to apply for a job vacancy that does not display a salary, according to research from Reed.co.uk.
According to Reed.co.uk, 22% of jobseekers exclusively apply for jobs with a listed salary, but recruiters have admitted that they still either don’t include the salary, or only sometimes include it, on nearly half (44%) of all job ads.
With 42% of companies currently finding it more difficult than usual to generate applications, the research shows ‘a clear need for businesses to update their salary transparency protocols’, Reed.co.uk stated.
While jobseekers state salary as being the number one reason to apply for a job, 62% of hiring managers believe a lack of salary transparency on job ads has no negative impact on applications, and 46% of employers have a salary transparency policy.
This is despite website data from Reed.co.uk showing job ads that display salary receive 27% more applications than those without.
Furthermore, almost half, or 48%, of all jobseekers say the absence of a salary on a job advert negatively impacts their perception of the hiring company. Furthermore, 26% say the word “competitive” in a salary description is likely to put them off applying for the role.
Meanwhile, hiring managers found that providing salary details delivered more applications (42% of hiring managers), greater relevancy of applications (38%), and saved time in the recruitment process (35%).
More than a quarter (27%) also said showing salary generated more applications from diverse candidates. This is supported by data from the study which found that women (81%), disabled (81%), LGBTQ+ (81%), and black people (87%) were much less likely to apply for a role without a salary being shown, compared to the national average (78%).
Simon Wingate, Managing Director of Reed.co.uk, said, “You wouldn’t shop in a supermarket that doesn’t list its prices, so why should we expect people to sift through job ads that don’t advertise salary? From our research, it’s clear that jobseekers want to apply for roles at businesses that are open about what they pay. We know from Reed.co.uk website data, that roles which display a salary receive 27% more applications than those without.”
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