Experienced and trusted executive assistants who have a sound knowledge of their organisations’ structures are well positioned to receive hefty pay rises, if forecasts from the Royal Bank of Australia (RBA) are anything to go by.
Following some number crunching and review of statistics from their latest quarterly economy forecast, the RBA believes the COVID business recovery will be strong, resulting in a possible mean wage increase of 3% by 2023 – the fastest growth in ten years.
“Wages growth should continue to pick up in the near term, as the remaining wage freezes and cuts implemented in 2020 are unwound and labour market conditions tighten.” RBA said in a statement.
According to RBA’s research, businesses are already responding to the predicted talent shortage as a result of the ‘Great Resignation’ and loss of staff who decide not to accept vaccine mandates – more retention bonuses and organisations are increasingly relying on less experienced staff.
