This yearís Chartered Institute of Personnel and Development (CIPD) and Croner Reward pay survey (Personnel Rewards Survey) shows that those working in recruitment at the senior management level have experienced the biggest increase in salary over all other HR specialisms at that level, indicating that organisations are valuing highly the recruitment and retention of key talent during difficult economic times.
In fact, recruitment consultants are valued more than ever, with their salaries being generally 11% above the average senior management HR pay of 45,000 per annum, compared with 4% above the average in 2007.
Charles Cotton, Reward Adviser at the Chartered Institute of Personnel and Development (CIPD), says: ìWhile many employers are looking to cut back on their head count they are still looking to recruit individuals at all levels with the right skills, knowledge and attitudes to lead them through these difficult times, and emerge ready to capitalise on a future recovery.î
The survey also shows that the pay of project/internal consultants has been outpaced by other HR specialisms this year. They are receiving one percent below the average senior management HR salary, compared to 13% above last year.
Employee relations specialists are receiving 6% below the average senior management HR salary (compared to 4% above the average salary in 2007) despite the increased industrial relations activity and predicted strike action in some sectors.
Similarly to last yearís findings, reward and compensation professionals are the highest paid HR specialists, receiving 18% above the average senior management HR salary, compared to 16% above the average salary in 2007.
Charles Cotton adds: ìA potential explanation as to why project/internal consultantsí salaries have not kept up with the pay of other HR specialisms could be that many change initiatives are being put on the back burner due to the current economic climate and, as a result, employers donít need as many project managers.
ìWith reward budgets accounting for up to two thirds of operating costs, the need for reward and compensation specialists capable of aligning pay with organisational objectives is clear. During these tough times, employers will be particularly keen to ensure they can maximise return on their substantial reward budgets.î
The survey also reveals the salary rankings of HR professionals working in different sectors. HR professionals in the manufacturing sector have the highest remuneration, on average 3.5% above the ìall sector averageî of 30,720, while those working in the voluntary sector are the lowest paid, with 2.3% below the average HR pay.
Below is how all the sectors ranked:
1. Manufacturing sector: 31,791 3.5%
2. Public services sector: 31,654 3.0%
3. Private services sector: 30,000 -2.3%
4. Voluntary sector: 30,000 -2.3%
Vivienne Copeland, Director of Client Services at Croner Reward, adds ìWith recent Government guidelines about pay restraint in the Public Sector, the order of this list might be very different in the coming months. At the same time, although private sector jobs might be hit if we enter a recession, organisations in this sector have some freedom to better reward those who remain in the business and on whom they put greater reliance like HR professionals.
ìPay in the voluntary sector has historically lagged behind other sectors, and it will be interesting to see if this trend worsens should donations reduce as a result of the current and predicted economic difficulties.î
Pay Survey reveals recruitment specialists as key to UK organisations during economic downturn
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