Stability, longevity, loyalty, "time served" and annual salary increases? Are these all things of the past? And do employees (particularly those in Sales) who stay for longer than two years get paid less?
The first point I think we should review is pay rises and inflation.
Its not all doom and gloom, the positive news is that UK is set to see an average salary increase of 2.8%. Taking into account inflation at 0.5% this will mean a 2.3% real wage increase.
Good news then?
Well, I would hold off ordering that Ferrari you have always wanted as the average UK salary for 2015 was £27,500 per annum. (Source: Office for National Statistics) So, a 2.3% increase on £27,500 might leave you feeling that you have been sold short.
Along with annual pay rises / reviews, other factors can come into play when looking to increase your salary within your current business. For example; does the business have a salary cap for your position, or the possibility of being blocked from progressing or promotion due to another employee?
So, Does It Always Pay To Move?
The statistics would say "YES". The average pay rise an individual can expect when moving companies is between 10%-20% and in some circumstances it can be as high as 50% increase.
In very exceptional situations you can secure up to 5294% increase in salary. Take, for example, footballer Jamie Vardy.
While Jamie played for Fleetwood he earned £850 per week (£44,200 per annum) not too shabby and well above the UK average salary. Then he moved to Leicester City and secured himself a comparatively low footballers salary of £45,000 A WEEK! Or £2.34M a YEAR!!!! Wow... What a move! (And now predicted to be moving to Arsenal for a £20M deal).
With competition for skilled employees at an all time high, companies are willing to offer enhanced benefits packages and inflated salaries. My advice would be if you see your stats improving like Vardy's then knock your bosses door and ask for the rise you deserve. If this doesn't work, then I would consider making a move to the "Premiership".