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Salary benchmarking during COVID19

Right now, maritime businesses are having to make some very big people decisions, and these are likely to continue into 2021 and beyond. Not only do companies need to identify who their business-critical employees are, but also ensure they keep the talent they need to enable them to weather this storm and drive the business forward once economies stabilise.

Effective pay strategies are key in achieving this. Paying more than you need to is not a luxury many can afford, but paying too little can bear a much higher price.

Spinnaker has been providing maritime-specific shore-based salary and bonus information through the Maritime HR Association since 2005. As the only global provider of such information, the Association has built up a membership of some of the biggest and most recognised companies in the industry. 

Here’s what some of our members have to say about the Association:

Donna Price, Global HR Business Partner at Stolt Tankers, the world’s largest fleet of chemical tankers, and founding member of the Association tells us We have found it a true benefit over time to be part of the Maritime HR Association. The shared experience within the maritime sector is second to none.”

Lucie-Marie Gaultier, VP Global Talent at Canadian giant Fednav finds the benchmarking particularly useful due to the global reach of the data.  She states “Subscribing to the Maritime HR Association has provided us over the last six years with invaluable information.  We have offices spread over all the world and having reliable data for each country ensures we have a consistent approach in all of our offices which is key in attracting and retaining key talent.”

As well as the annual salary survey reports, members of the Association also receive supporting market analysis reports – providing an overview of industry trends, year on year comparisons and topical points including gender diversity.

The 15th member conference, usually held in May each year, was cancelled in 2020 for obvious reasons. However, once restrictions are lifted members will get the chance to network once again at this increasingly popular maritime HR event. No doubt there will be an underlying theme of lessons learnt and new people practices arising from the pandemic…

Pal Egeland, Head of HR of global carrier Saga Welco is a regular attendee who tells us he finds the event a Great meeting place for HR executives within the maritime sector. Important networking, profiled speakers and relevant topics are discussed in a warm and friendly setting.”

If you would like to access any of these services, please get in touch. The 2020 salary reports have just been published, so why delay?  

t: +44 (0) 1702 595 302

e: mhra@spinnaker-global.com

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