Brooke Petersen, chief marketing and growth officer for Pentasia’s parent company, The Conexus Group, recently discussed the trends and findings from part two of the iGB Pentasia Salary Survey 2023. According to Petersen, there has been a rise in hybrid working and a general slowdown in wage growth within the igaming industry.
The survey revealed that the significant salary increases experienced in 2022, with some professionals receiving pay rises of up to 30%, are now a thing of the past. Instead, there has been a modest growth of approximately 4%, which is likely to be in line with inflation, resulting in largely stagnant wages.
Constrained budgets are also a contributing factor, with market conditions leading to layoffs earlier in the year and increased scrutiny over spending across all practices. However, it’s important to note that the talent needed by the industry isn’t available without investment. Forward-thinking companies are aligning compensation with strategic goals and recognizing the importance of attracting and retaining top-tier talent for long-term success.
In terms of tech talent, despite layoffs and redundancies earlier in the year, it remains a candidate’s market in igaming. The demand for tech skills is high, and retaining top talent is crucial for business success.
Another trend highlighted in the survey is the rise of hybrid work, with companies valuing flexibility. Employers insisting on a traditional in-office, five-day work week are finding it challenging to recruit and retain staff. Embracing a more flexible approach to work has proven to be significant in engaging employees in this competitive industry.
The prolonged delay of the UK Gambling Act review has caused uncertainty in the industry and has left many companies uncertain about their investments. This uncertainty not only impacts the allocation of resources but also leaves a disillusioned workforce with limited direction and opportunities for growth.
Finally, the survey found that more than 60% of respondents felt that the biggest challenge of motivating their workforce was providing them with opportunities for professional growth, particularly in the areas of training and ongoing education. Within the igaming market, training in risk and compliance, including responsible gambling, AML, anti-bribery, anti-fraud, and payment handling, has seen increased demand.
In conclusion, the iGB Pentasia Salary Survey 2023 outlines the current trends and challenges facing the igaming industry, including a slowdown in wage growth, the need for investment in talent, and the rise of hybrid working. These findings provide valuable insights for companies looking to navigate the evolving landscape of the industry.