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Paying to retain and employee is cheaper than hiring
Reporter:
Marc Astley
09 Mar 2026 11:09 AM
Workers in the South West have revealed they need an annual income of £44,0001 to live comfortably, a significant jump from the regional average salary of just over £37,0002.
This creates a ‘comfort gap’ of £7,000, according to new research.
The survey of 5,000 UK professionals, part of recruitment company Reed’s annual salary guide series, highlights the financial pressures faced by employees in the region. Only 55% of South West workers report being happy with their pay, while a notable 27% are unhappy.
For those dissatisfied, the primary reason is that their salary has not kept up with the cost of living, cited by 52% of respondents.
Katie Cartner, Regional Director at Reed, said: “The South West is celebrated for its quality of life, but this research shows that for many, the cost of that lifestyle is becoming a source of financial strain. There's a clear tension between the region's appeal and the economic reality for the people who live and work here.”
The financial squeeze is taking a noticeable bite out of people’s monthly budgets, with 30% of workers in the South West stating that they are left with £100 or less after essential bills each month. On top of that, nearly one in ten (eight per cent) in the region stated their entire salary is consumed by necessities, leaving them with zero disposable income whatsoever.
The amount of disposable income reflects this pressure, with the average leftover amount after essential bills in the South West sitting at just £546 per month.
Katie added: “The market has definitely stabilised after a period of intense candidate movement. In the South West, we are seeing professionals weigh their options much more carefully.
"They are looking for a compelling reason to move, which means the right combination of salary, benefits, and long-term security. The desire for a higher salary is still a key motivator, but it’s now tempered by a need for stability in an uncertain climate.
"Candidates now have a wider range of opportunities available to them, so presenting your company as compelling and competitive is essential for a successful hiring process”
In fact, Reed’s data shows that to attract talent from a competitor, employers would need to offer an average salary increase of £10,779. However, to retain current employees, a pay rise of £3,487 would be considered worthwhile.
This indicates that while employees may be hesitant to move, there is a clear opportunity for businesses to improve retention. Notably, 27% of workers in the region said they would not sacrifice any benefits for a higher-paying job, suggesting a strong focus on the overall employment package.
Katie concluded: “For employers in the South West, the focus should be on building a comprehensive package that acknowledges the local cost pressures. It’s no longer enough to just match market-rate salaries.
"Benefits that offer tangible value, such as flexible work options to reduce commuting, health and wellness support, and clear paths for progression, are what will make an organisation stand out and attract and retain the best people for the job.”
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Liam Bassett, 24, from Exeter, assisting a dog in need during the pop-up veterinary clinic in Yala, Sri Lanka. The mission treated 175 animals over three days. Credit: Lucas Helps Dogs.
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