Salaries in Stockport are expected to beat Manchester City Centre equivalents across multiple sectors in the next 12 months as local employment forecast looks positive.
A new report into labour market trends in Stockport has revealed that almost 90% of businesses plan to hire new staff over the next 12 months and higher rates of pay than Manchester city centre can be expected for some of those roles, as employers invest in attracting the best applicants to stay local.
The Stockport Salary Survey 2018/19 was commissioned by Grassroots Recruitment in association with leading online salary UK benchmarking brand Croner and with major input from 25 leaders in key businesses across the Borough.
It points to an extremely positive outlook for business growth and job creation in Stockport, with the majority of organisations looking to expand their operations, citing a growing customer base and the need to bring new skills on board.
The report reveals that Stockport wage rates will be at least equivalent to Manchester city centre, and higher in sectors such as legal and engineering (by 1-2%), as employers are prepared to invest in the best talent and keep it in Stockport.
Caroline Patten from Grassroots Recruitment commented:
“The fact that Stockport employers are matching and in some cases exceeding Manchester rates of pay is an impressive commitment to attracting the best.”
A Senior Web Developer is paid an average of £2,000 higher in Stockport than Manchester city centre (£46,110 compared to £44,212).
“This is good news. And with pay parity in many other sectors candidates have every reason to work here.”
The trend has appeared within the context of skills shortages, reported by many employers, particularly in the legal, finance, technical and engineering sectors.
One of the report’s contributors is Chris Swerling, Head of HR at SAS Daniels LLP.
“In the current market there are lots of candidates, but not many appear to have the experience required for the higher level vacancies. We need to do more to attract the bigger hitters.”
So as well as putting attractive salary packages together Stockport firms are also investing in their employer brand, working environment and reputation. Important factors recognised by prospective applicants, especially higher up the pay grade.
“Commitment to employee wellbeing is a top priority for us and we know attracts quality candidates. So that means investment in training, support for existing staff and operating a transparent recruitment process is all very important.”
Emma Lord, HR Manager at software specialists, CDL who also contributed to the report, commented:
“We need high performing talent here at CDL and are continually striving to be one of the best employers in the North West. This includes a significant commitment to training to meet future skills demands. We also use our extensive apprenticeship and graduate programmes to provide a good talent pipeline.”
Increasing pressures affecting recruitment – from Brexit to emerging technologies – make it even more important that Stockport employers can stand out from their counterparts in the city centre and across Greater Manchester.
“Experienced applicants are in high demand and are more careful in selecting which companies to work for” added Caroline. “We find that candidates want an employer with flexible working hours, training, social values and a strong CSR policy all within a reasonable commute.
“With improved transport links, better public transport, good access to parking and ongoing infrastructure investment improvements Stockport is now ticking that box and giving candidates even more compelling reasons to choose Stockport.”
As a new employer in the town, Jamie Pitt, Business Manager at The Light Cinema, said there was a great opportunity to bring top level hospitality professionals into a growing evening economy.
“As Stockport’s leisure and entertainment offering starts to expand, it’s vital that we send a strong message to communities that we mean business to bring in and develop the best talent for the job.”
The full Stockport Salary Survey 2018/19 is available to view online now.