InnoLead Survey Finds That Interesting Challenges and Remote Work are Bigger Retention Factors Than Pay

BOSTON, MA / ACCESSWIRE / March 9, 2023 / InnoLead, the world's largest network of corporate innovators, has released its latest report on salaries, the "2023: Compensation Survey: How Innovation, Strategy, and Digital Leaders Get Paid," in partnership with InnovationCast, a top provider of collaborative innovation management software.

InnoLead fielded the survey in Q4 2022 and received over 200 qualified responses from professionals in roles responsible for innovation, new products, and leveraging emerging technologies.

Key insights from the report include:

• North Americans are earning more than their counterparts worldwide. This year, the average salary across all respondents was $161,600. The average salary in North America was higher than that, at $181,000. But across the rest of the world, the average salary came in lower than the total average, at $119,200.
• Interesting work/challenges are the number one factor that keeps respondents in their current organizations and roles. With a competitive talent market, organizations are focused on retaining their current employees. According to the data, the best way to do that is to allow employees to work on projects they indicate interest and passion in, to allow them flexible work options (the number two factor was the ability to work remotely), and to pay them at or above market (the number three factor was a competitive base salary).
• The vast majority of respondents earn bonuses. Among all respondents, nearly 86 percent indicated that they earn some kind of bonus - whether monetary, non-monetary, or both.
• Those working in public companies have the highest average total compensation package. Unsurprisingly, respondents from public companies out-earned their counterparts in private companies, non-profits/NGOs, and government agencies.
• Twelve percent of respondents said they were actively looking for a new role, with nearly 35 percent describing themselves as "firmly planted." The remaining 53 percent said they were passively considering new opportunities.

"This report includes not only great data about how much people in various innovation-centric roles get paid in different parts of the world, but it also sheds light on what kinds of new roles have been created recently and how salaries get set for those roles," said Scott Kirsner, CEO & Co-Founder of InnoLead.

To access the report, please visit https://www.innovationleader.com/research-reports/compensation2023/

To learn more about InnovationCast, please visit https://innovationcast.com/.

Contact Information

Kristof Torok
Growth and Operations Manager
kristof@innolead.com

SOURCE: InnoLead