Business Support Professionals Demand More Money in 2023
As the role of a business support professional continues to evolve, so does the need for money. Despite all the work business support professionals have done to demonstrate the value of their work as an investment (not a cost), it’s clear that salaries and overall compensation still have some way to go.
Exclusive data from Lily Shippen’s Salary & Market Update reveals that 84% of the 300 business support professionals surveyed are looking to receive a pay rise this year from their current employer, and over half (53%) will look for a new role if they do not receive one.
The Salary & Market Update also reveals that regular pay reviews are imperative in retaining top talent. When you consider that 37.5% of business support professionals have not received a salary increase in the last year, and 67% did not receive an uplift in pay in the pandemic, it is unsurprising that an increase in salary and/or benefits is a key motive for professionals looking to leave their current companies.
Lily Shippen, Managing Director of Lily Shippen Recruitment, commented, “The sooner businesses invest further in their Executive Assistants and business support staff, they will realise that they are capable of performing under incredible amounts of pressure and adept at ensuring that strategic objectives are achieved”.
In better news, 73% of those surveyed felt challenged in their role, and 63% of those surveyed in London felt that there was good career progression available within their company. Businesses that recognise the true potential of their business support teams train, and upskill them, will retain top talent and save money in the long run.
After a turbulent few years, it makes sense that a company culture would be another main motivator for business support professionals. 94% of those surveyed stated they would leave their current employer due to poor company culture.
In summary, there is set to be some movement within the business support industry if companies do not look after their people talent. For more information, you can view our salary survey here.
