Over 100 companies participated in Spinnaker’s Maritime HR Association 2023 salary survey which benchmarks salaries and bonuses for shipping jobs including Technical Superintendents, Operators and Charterers across the globe.
This is the 17th annual report from maritime HR experts Spinnaker and this year boasts a record number of participants from global shipowners, shipmanagers and oil majors.
2023 has seen companies face an employee-driven market with the talent shortage being felt globally across all industries, not just shipping. Add to this the cost-of-living crisis and high inflation rates, have made a tough year for HR teams who want to make sure they fairly compensate their employees and can attract and retain staff with competitive remuneration packages. The importance of accurate and reliable salary data has never been so highly valued.
Indeed Lucy McQuillan, who heads up Spinnaker’s HR Consulting division which produces the annual salary survey tells us “An observation from this year’s reports is that the largest salaries seem to be being paid to new hires. Organisations are struggling to recruit, and remuneration packages have certainly increased from what we were seeing in 2022 when it comes to new hires.”
Using Spinnaker’s salary reports means that clients have access to the most up-to-date salary and bonus information in the shipping industry which they can then use as part of their annual pay reviews.
This year’s report contains data from 50,000 shore-based shipping employees from shipping hubs including the UK, USA, UAE, Denmark, India and Singapore. This represents a 25% increase on the data received last year. As the reports continue to grow, new locations are able to be reported – in 2023 this included Bulgaria, Indonesia, Monaco, South Korea and Switzerland for the first time.
As the shipping industry continues to prioritise ESG, the survey has introduced a new family that aims to report job roles in sustainability. The family was well received by clients and we saw the highest volumes reported in India and Singapore.
Employers need to remember that it’s not always about being the biggest payer in the market. Lucy McQuillan of the Maritime HR Association maintains that. “Employees will look for other jobs if they think that they are being underpaid, BUT if they are treated well, remunerated fairly and given the opportunity to progress their career they are more likely to stay with that company even if they are not the highest payer in the market. Spinnaker’s salary data provides shipping companies with the data needed to ensure that they can position themselves in the right place in the market.”
To find out more about the benchmarking that Spinnaker provide, please contact Helen McCaughran or Monique Turner in the business development team or visit our website www.spinnaker-global.com.
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