Construction sector fends off finance at the top of the 鈥榗ounter offer鈥 league table

FMB construction worker on site

Firms in the construction and engineering sector are among the most likely to hike pay levels in a bid to stop staff leaving, according to new research.

Figures produced by employment agency Randstad say 21% of construction and engineering workers who floated plans to move jobs were offered an improved salary package by their existing employer.

The agency said professionals in the sector were demanding an average pay hike of 15% to stay in their existing posts.

Construction and engineering is joint top of Randstad鈥檚 鈥渃ounter offer鈥 league table, along with technology and IT firms.

By contrast, only 11% of finance firms gave counter offers to staff who handed in their notice, while the national average was 8%. Just 3% of workers in the education sector reported receiving a counter offer after announcing their plans to leave.

Owen Goodhead, managing director of Randstad Construction, Property & Engineering, said construction鈥檚 21% average for counter offers had grown further since the survey had been carried out.

鈥淢ost recently in the construction industry, things are even more heated than this would suggest,鈥 he said.

鈥淲hile the proportion of employees counter-offered last time they moved jobs is only just over a quarter, for those moving jobs right now that proportion is more like three quarters.

鈥淏eyond the big picture of construction鈥檚 economic resurgence, there鈥檚 a human level too. To make full use of all the opportunities that are flowing in, there鈥檚 now a white-hot market for the necessary skills. Skilled engineering professionals and experienced tradespeople are enormously sought-after. 

鈥淐ounter-offers are an indicator of that mood 鈥 as some employers wait just a bit too long to respond to a booming jobs market.鈥

Despite the attractiveness of a pay hike, Randstad said a majority of staff had a negative view of firms making a counter offer to retain employees.

It said 62% of workers took the practice as an 鈥渁dmission of failure鈥 on the part of an existing employer.

When you last moved jobs, were you counter-offered?

IndustryProportion counter-offered last time they moved jobs
Construction & Engineering21%
Technology and IT21%
Finance11%
Health & Social Care7%
Education3%
UK Average8%