09/17/09

Permanent Link - Take Home Pay Take Aways 03:21:09 pm by Alice Snell

Take Home Pay Take Aways

Are you curious about how much money other people make? Here’s a list of the 30 Highest-Paid HR Leaders Among Publicly Traded U.S. Companies. Although highly paid, average compensation for executives on the list has dropped 20 percent since 2007.

HR executives may be making less money and also leaving sooner. The results of the Executive Turnover Survey found:

While the average tenure of HR leaders appears to be slightly less than six and a half years for the companies surveyed, the pace of their turnover seems to be accelerating, particularly in companies with annual revenues above $100 million.

More broadly, analysis of recent compensation studies shows:

89.9% of the companies who participated in the Watson Wyatt 2009/2010 U.S. Strategic Rewards survey expect to grant salary increases in 2010. Companies are projecting median merit increases of 3.0 percent for 2010.

Canadian employers report they plan to award average base pay increases of 2.7 per cent in 2010, a rebound from the actual increases of 2.0 per cent awarded in 2009, according to the 2010 Canadian Compensation Planning Survey from Mercer.

U.K. Pay Increases Shrink to 1% according to the Industrial Relations Services (IRS) analysis.

And among the findings of fifth annual Employment Dynamics and Growth Expectations (EDGE) Report are:
• Despite an abundant labor pool, six in 10 employers are willing to negotiate with qualified candidates for higher compensation.
• Nearly half of workers polled (49 percent) said that after the economy improves, the most effective way to keep them on board will be pay increases. In fact, 28 percent plan to ask for a raise.
• Forty percent of hiring managers said that when the economy improves, giving pay raises will be their primary method for retaining top performers.

Although Wednesday may the best day for an employee to ask for and receive a pay raise, organizations need to take a rigorous approach to compensation management so that decisions aren’t made in haste, but are properly calibrated and linked to performance.

As exemplified in Taleo’s new compensation solutions for small and large businesses, compensation management can be a significant and integral aspect of talent management strategy.

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Taleo Blog - Talent Management Solutions

Taleo's Talent Management Solutions Blog is about developments in Talent Management - from its definition and practices - to the latest research in the field.

Alice Snell
Vice President, Taleo Research

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