Work, low salary and few opportunities: four out of ten professionals ready to change company

In 2023 the job market it was particularly dynamic, but it highlighted lights and shadows: companies had, in fact, to overcome the now chronic shortage of candidates and qualified professionalswhich make the recruiting. Instead, worker satisfaction has increased, but they are still many are “dissatisfied” with their working lifethe economic situation and the low career prospects, therefore ready to change company (almost four out of ten); when choosing a new job, in addition to the salary, you also look at professional growth, work-life balance and benefits. The agile workingespecially the hybrid, is a consolidated reality (also for 2024), so much so that many would resign if it were eliminated.

On theartificial intelligence There are many fears, but businesses and workers are ready to accept the challenge, especially the younger ones. For 2024, the number of companies intending to hire is growing and there is an intention to adjust salaries, even if with a limited increase. People will increasingly be at the center of HR policies.

These are the main results that emerged from the Salary Guide annual report 2024 – presented Thursday 28 March by Hays Italy during a dedicated event – which aims to monitor i main trends in the labor market in Italy for the year 2023 and expectations for 2024. The survey was conducted on a sample of 1,348 professionals, mainly middle and top management, and 828 companies.

Companies looking for qualified professionals

Around 2023 two out of ten workers have changed companies and the employment rate, according to Istat, has reached approximately 66.6%. However, companies found themselves having to face a series of critical issues, including the general one shortage of candidates in the market (for 40%), and in particular of qualified professionals (53%), with greater difficulty for intermediate levels.

In recent years, managers and entrepreneurs have understood the importance of “people” as the fulcrum of the development of their organization. Among the priorities of investment in HR for 2024, in fact, the programs are highlighted training for employees (47%) and the definition of measures to try to retain talent (41%), preferred to other aspects such as digitalisation and process automation.

And on the employment front? Although 2023 was a complex year, six out of 10 companies declared they had increased its staff. A trend that continues into 2024, with 88% intending to hire, especially figures with permanent contracts (76%), but also temporary or freelance workers for the management of temporary projects.

There is certainly a willingness on the part of those who lead the company to adopt measures to overcome the current situation skills mismatch existing, relying on companies experienced in recruitment (39%), strengthening their Employer Branding (39%) and investing in staff training and retraining (36%; upskilling and reskilling).

Four out of ten workers are dissatisfied

In 2023 the worker satisfaction in relation to their current employment, going from 47% in 2022 to as much as 61% (the happiest are the “senior” figures). And this despite the fact that, on a general level, there are no major opportunities for career advancement in the current company (47%) and no promotions (70%) or salary increases (65%) are expected in 2024, despite believing they have the skills necessary to carry out the role.

However, we must not forget the almosts four out of ten workers dissatisfied, to which companies must pay close attention if they want to retain them: in fact, these dissatisfied workers would change companies, mainly keeping the same role or sector. Among the main reasons, they indicate the lack of professional development opportunities, too low pay, the absence of a career path and the poor work-life balance.

For workers, in fact, pay is important, but when considering a new job, a mix of elements consisting of professional growth (51%), work life balance (49%), benefits (47%) and interesting roles or projects (41%).

Companies ready to adjust salaries (but with a limited increase)

The remuneration lever, especially in this historical moment, confirms itself as a crucial element in influencing workers’ choices. According to the analysis by Hays Italia, the average salary in 2023 (RAL), considering middle and top management figures, is around €54,000, up 2% on 2022, with a clear difference between Junior/Specialist (34,000 €), Senior Specialist/Coordinator (€49,000), Manager (€68,000), Director (€75,000) and C-Level (€94,500).

Despite this and despite increasing the level of salary satisfaction (from 45% in 2022 to the current 57%), over four out of ten professionals (43%) continue to be dissatisfied with their economic situation and more than half (55%) think that theirs salary is not adequate for current responsibilities. In 2023, in fact, as many as half of the sample did not receive any salary increase (for 7% it even decreased). And also for the future, almost two thirds of workers (64%) think they will not receive increases, also because the majority do not expect a promotion.

But if workers have many doubts, 59% of companies seem willing to review salary levels upwards over the next few months, even if limited (most within 5%). How did employees obtain the pay increase in 2023? First of all, changing jobs (for 37%), followed by individual performance (24%).

Corporate benefits

Besides salary, what are the main factors for attracting or retaining talent in companies? Definitely i benefits they represent an important aspect both for workers (47%), who mainly evaluate this element when considering a new job, and in the strategy of many companies (46%) as a tool for the recruitment and retention of their collaborators.

Currently almost three quarters of professionals have declared that they receive company benefits which mainly concern the classic computers, telephone, meal vouchers, health insurance or private medical coverage and flexible working, but the most appreciated ones of all are thecompany car (56%) and lo smart working (51%).

Employees don’t want to give up hybrid working

As with the benefits, also the flexible working it is one of the aspects that workers no longer want to give up for a better work-life balance, ranking second among the most appreciated benefits (51%). Compared to 2022, in 2023 the situation is essentially stable: only 32% are “forced” by companies to work exclusively in the office while the hybrid mode of 2 to 4 days in the office (51%) is the most widespread.

However, many employees are satisfied with this situation (63%) and companies have no intention of changing the working model for 2024 (83%). Also because last year’s analysis clearly showed that almost three out of ten workers would be willing to resign if they were forced to return to the office.

The impact of artificial intelligence

L’artificial intelligence (AI) The world of work is also changing profoundly, with around 20% of professionals stating that they currently use Generative AI technologies or tools in the workplace, especially young people.

But when it comes to AI, the real point is to understand what workers think about this revolution. There is still a certain distrust with the sample equally divided between those who consider themselves worried (47%) and those who are not worried at all (53%). This is likely because for over a third of employees, AI will eliminate more job opportunities than it will create.

Yet, there seems to be no total block, given that the majority of employees (76%) are ready to accept the challenge of a possible change in their profession or field of specialization following new AI developments. Just as many (85%) are available to participate in professional refresher and retraining programs to include AI technologies in their work.

Multigenerational teams

Four different generations living together in the same working environment. It is therefore important for managers, entrepreneurs and HR to manage the multigenerational teams appropriately, so that the skills and experiences of each generational group can be transformed into a competitive advantage for the company itself. Just look at the differences between the more “senior” baby boomers and the Gen Z. The former consider themselves significantly more satisfied with their work and their pay, despite thinking that, unlike younger workers, there will not be great opportunities for them in 2024 for professional growth and salary.

And when considering a new job opportunity, in addition to salary, baby boomers look at work-home balance, while Gen Z thinks above all about professional growth. The advent of Artificial Intelligence tools in the workplace is certainly more appreciated by junior professionals than by more senior colleagues, who are probably less accustomed to digital technology.