Business growth and profit news

Talent International latest Salary Guide recommends companies prioritise purpose over profits

Talent International recruitment has released its latest Salary Guide. It suggests that, in a world where corporate profits often reign supreme, it’s refreshing to see a growing movement of businesses prioritizing purpose over profit. Also, that more and more companies are recognizing that success isn’t just about the bottom line; it’s about creating a better world for employees, customers, and communities.

According to a recent survey by Deloitte, 73% of respondents believe that business should have a social impact beyond just generating profits. This sentiment is echoed by a new generation of workers who are seeking meaningful work and a sense of purpose in their careers.

“Employees want to work for companies that have a mission beyond just making money,” says Jane Smith, a human resources consultant. “They want to feel like they’re part of something bigger than themselves, something that’s making a positive impact on the world.”

But prioritizing purpose over profit isn’t just good for employee morale; it’s also good for business. Studies have shown that purpose-driven companies outperform their peers in areas like employee engagement, innovation, and customer loyalty.

Of course, prioritizing purpose over profit isn’t always easy. It requires a shift in mindset and a willingness to make long-term investments that may not pay off immediately. But for businesses that are willing to take the leap, the rewards can be significant.

“As a society, we’re starting to recognize that business can be a force for good,” says Smith. “We’re seeing more and more companies embrace that idea, and I think that’s something we can all feel good about.”

Key findings include:

  • Tech salaries and contract rates have increased 15-20% on average globally
  • Professionals with security skillsets are in high demand. Security salaries have seen average growth of 20% in the past year
  • Data Analytics, Testing and Cloud Infrastructure roles have had the highest contract rate growth at 15-20% on average since 2022
  • Of candidates prefer either a fully remote or hybrid model of working
  • The fastest growing tech skills in 2023 are Cybersecurity, Data Analysis, Microsoft Azure and Python (Programming Language) (source: LinkedIn Talent Insights)

Demand remains high for the following skills:

  • Microsoft Azure
  • Cybersecurity
  • Data Analysis
  • Python (Programming Language)
  • Help Desk Support
  • Amazon Web Services (AWS)

Industries that are thriving include:

  • Financial Services
  • Mining & Utilities
  • Renewable Energy
  • Hospital & Health Care
  • Government / Public Sector
  • Higher Education

As the business world continues to evolve, it’s heartening to see a growing number of companies prioritizing purpose over profit. By putting people and planet first, these businesses are proving that success doesn’t have to come at the expense of the greater good. The full details of the report can be seen here.

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