Survey to help benchmark local salary levels

BUSINESSES in Greater Peterborough are being encouraged to take part in the 20th annual Anne Corder Recruitment Salary Survey to help benchmark themselves against local competitors.

The survey, in association with Peterborough-based reward management consultancy Paydata, reviews salary levels across a broad range of jobs and sectors and provides an invaluable insight into the latest salary levels in the city. But it also focuses on other benefits that make up a complete remuneration package.

“There is a strong focus on staff retention as recruitment mobility has slowed, which puts even greater emphasis on ensuring that remuneration packages are both competitive at the recruitment stage and remain so to help with ongoing retention,” said Anne Corder.

“The only way you can find out whether your salary levels are competitive is to compare them with similar sized businesses in similar sectors – and that is fundamentally what the annual survey is designed to achieve,” she added.

“It may seem easy for employers to gloss over the importance of benchmarking salaries locally and focus on the national picture instead. But local trends are critical to help employers remain ahead of other competitors in the city who will be looking to hire the same candidates.”

The 2015 survey showed an average salary increase of around 1.8 per cent, close to the UK average.

Pay settlements this year are predicted to be between two and three per cent, according to Paydata’s Tim Kellett. Research carried out by his company earlier this year pinpoints challenges for local companies finding the right calibre of staff with 65 per cent of businesses surveyed paying up to 10 per cent more to newcomers than existing employees.

Last year almost 30 local companies employing around 4,000 local people – from large corporates to SMEs – took part in the ACR survey, providing information confidentially. Participating companies receive a detailed breakdown of the findings in the full report once the data has been analysed.

“The more pay and benefits data we can gather from local companies, the more we can drill down to specific detail which will be of benefit to HR departments as they seek to be competitive in the jobs market,” added Tim.

To take part in the 2016 Anne Corder Recruitment Salary Survey visit: http://www.annecorder.co.uk/employer-resource-centre/salary-survey/

or call Karen Dykes at ACR on 01733 235298.