IT’S that time of year again, when many HR departments turn their minds to the pay review budget. Everyone wants to know what everyone else is going to do.
Regular readers will know that here at Spinnaker we run the Maritime HR Forum, a membership association of nearly 60 major shipping and trading employers. Research from the HR Forum, plus our day to day conversations with our clients around the world, gives us a pretty accurate view of what people are thinking. We also compare this with non-shipping research.
The first thing to note is that the shipping industry is more or less completely in step with non-shipping employers when it comes to 2013 pay reviews. We have reviewed three pieces of non-shipping research which are consistent both with each other and with shipping data. Only 2% of companies are expected to freeze pay this year. Freeze levels have been low since 2011, having fallen from 39% in 2009 and 13% in 2010.
This year’s forecasts (median pay rises):
North America, UK, Scandinavia 3%
Germany, Belgium, Netherlands, Japan 2%
China and Hong Kong 5%
Singapore, Australia, Korea 4%
India 9%
Phillipines 6%
South America and South Africa 6.5% (Argentina 9%)
If your company is interested in keeping properly up to date with shipping salary and bonus levels across some 50 shore jobs in shipping centres around the world, consider joining the Maritime HR Forum. For a membership information pack, email Michele Hawkins, [email protected], (employers only).
