PAY DATA
Comp & bens remain top paid HR specialism
Compensation and benefits professionals are the highest-paid specialists in HR, according to the latest survey from Croner Reward in association with the Chartered Institute of Personnel and Development (CIPD).
In some cases, for example, compensation and benefits specialists received as much as 16% above the average salaries of their counterparts working in other parts of the profession.
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This is illustrated at senior manager level where the average compensation and benefits salary was £50,000, compared with just £43,272 across the whole of HR.
Survey data is drawn from over 10,000 jobs from organisations of all sizes and also shows another group of specialists moving up the pay league this year – training professionals. In fact, the survey reports that: “For the first time in ten years, training professionals earn higher than the average HR salary”.
Charles Cotton, CIPD reward adviser, believes this is a reflection of the growing challenges organisations face in overcoming skills shortages. Managers in the learning and development field, for instance, earn an average of £45,000 moving up the ranks from the lowest-paid specialists in the HR industry to become second-highest paid, alongside recruitment specialists and those in employee relations.
Continuous change driving rises in training
Cotton believes that skills shortages and the need for continuous change within organisations are forcing employers to increasingly recognise the strategic importance of learning and development. This is being reflected in the increased salaries that many learning, training and development specialists now receive.
He adds further: “The survey shows that learning, training and development professionals are currently the shock troops in the war for talent and the search for sustainable high performance working.”
Other findings
Other findings from the survey include:
Survey methodology
Survey data is drawn from over 10,000 jobs from 1,800 organisations of all sizes and Croner Reward analyses roles by a number of factors, including company size, age, business sector and region. The survey also includes analyses of benefits packages, including company cars, pension contributions, health insurance and holiday allowances. In addition, an opinion survey from CIPD members covers information including promotion prospects, job security and satisfaction.
A final word
Commenting on the high position of compensation and benefits specialists, Charles Cotton says: "The pay reflects the challenges that reward specialists face in providing a competitive pay and benefits package to help recruit, retain and motivate talent in a difficult labour market, while keeping wage costs down. It is up to the reward specialist to design a package that not only includes a good remuneration package but other elements such as holiday entitlement, flexible working, pensions and health insurance."
Want to know more?
Title: Personnel Rewards 2007, Croner Reward in association with the Chartered Institute of Personnel and Development.
Availability: A full copy of the report is priced at £340 for CIPD members (£420 non members). For more information, or to order a copy of the survey call Croner Reward on tel: 01785 813566, email: enquiries@croner-reward.co.uk or visit www.croner-reward.co.uk.
The Chartered Institute of Personnel and Development (CIPD) has more than 127,500 members and is the "leading professional institute for those involved in the management and development of people".
Croner Reward, part of Wolters Kluwer UK, publishes and advises on reward management and practice. It publishes 60 pay and benefits surveys a year across a range of sectors, regions and professions.