E-PAY
Base pay holds the key to retaining e-business staff
When it comes to retaining e-commerce staff, base pay is by far the most influential element in the total reward package, with benefits, bonuses and career development in its wake, according to a survey by human resources consultancy William M Mercer.
The 23-company survey found:
The vast majority of respondents — more than nine in ten — rated base pay as an important issue in retaining staff.
Some 65% felt bonuses were significant in retaining staff and 59% believed share options were important.
How important are the following elements of the reward package in retaining staff?
| Reward package element | Per cent of respondents |
| Base pay positioning | 94% |
| Base pay progression | 88% |
| Benefits | 76% |
| Career development and training opportunities | 76% |
| Employer brand/reputation | 76% |
| Bonus opportunities | 65% |
| Share options | 59% |
| Work-life balance | 59% |
| Signing-on bonuses | 24% |
| Buy-out bonuses* | 24% |
| Other | 6% |
* A bonus to compensate for a loss of bonus and/or share options from previous job — paid as a lump sum on joining the company.
Source: The 2001 e-business compensation survey, by William M Mercer.
Pay, bonuses and long-term incentives for selected e-business roles
|
| Base pay £ pa | Average bonus (% of base salary) | Eligible for long-term incentive | ||
|
| Lower quartile | Median | Upper quartile | ||
| Top e-business executive | 95,000 | 116,305 | 155,314 | 43% | 54% |
| e-sales manager | 50,000 | 63,000 | 76,000 | 26% | 42% |
| Senior web-developer | 37,875 | 44,936 | 49,475 | 13% | 22% |
| Associate web designer | 21,573 | 25,000 | 28,500 | 15% | 40% |
Source: The 2001 e-business compensation survey, by William M Mercer.
Want to know more?
Title: The 2001 e-business compensation survey, by William M Mercer.
Methodology: Survey examined compensation of e-business professionals in UK, focusing on 27 specialist positions.
Sample size: 23 companies participated in the survey.
Business sectors: The majority of respondents were subsidiaries or divisions of large parent companies operating in the financial services and high-tech sectors.
Availability: Copies of the survey are available from Simon Liddell, tel: 01753 848071.
William M Mercer is a human resource and employee benefits consultancy, with some 13,000 employees in more than 130 cities in 37 countries. For more information visit www.wmmercer.com.