Management Briefing:

2009 will probably have been the most challenging year many HR people have experienced.  Shrinking budgets, reduced resources and managing testing HR agendas have taken their toll.  And at the risk of being accused of being pessimistic, we predict that 2010 will be equally challenging for the HR community.

In a tight labour market, against the background of a recession, it is easy to think “Why do we need to benchmark pay? Labour turnover is low, pay settlements are low or non-existent and we are not recruiting.”  However,  there are a number of very good reasons why you should keep up-to-date with what is happening to reward practices in the market; a view which is supported by around 75% of PAYdata customers¹. 

We believe there are six key reasons why employers need to keep an eye on what is happening:

• Impact varies by industry
• Impact varies by region
• Changes in headcount impact survey data
• Bonus schemes and long-term incentives are under pressure
• There will always be a market for top talent
• Taxation is likely to play an increasingly important role

 Download full Management Briefing, exploring these reasons in detail:

• To Benchmark or Not to Benchmark...