A new survey suggests that just under half of UK workers don’t believe they’re being paid what they think ‘they are worth’ to do their current jobs.
The findings reveal that less than half (41%) of workers consider their salary to adequately reflect their job role and experience.
The other half (44%) think they’re being paid less than they should be, and one in six (15%) can’t decide one way or the other.
The research, by HR software provider CIPHR, also shows that employees who have waited over a year for a salary increase are more likely (67%) to be dissatisfied with their earnings.
People occupying senior management positions, such as owners, CEOs and CFOs, are more likely to feel adequately rewarded for their efforts, with the majority (64%) agreeing that they are paid ‘what they are worth’.
Two-fifths (40%) of them report getting a pay rise in the last six months.
This is not the case for non-management staff, who are among the most likely (48%) to think they’re underpaid and the least likely (33%) to have had a pay rise within the last six months.
Commenting on the findings, Claire Williams, director of people and services at CIPHR, says: “There’s no denying that people’s perception of their own value in the workplace is closely linked to the financial package they receive.
“This has obvious implications for employers. Workers that feel undervalued or underpaid can have a negative impact on productivity, employee engagement, job satisfaction, morale and so much more.
“Employers need to ensure that they take a wholistic approach when considering how best to retain and reward their top talent. Pay rises and market-value salary are important but they are only part of a wider set of retention methods to ensure employees feel valued and happy.”
