Connect with us

Top Stories

Pearl Meyer Releases Three Unique Compensation Surveys

Published

on

Pearl Meyer Releases Three Unique Compensation Surveys

–Job Titling, Cyber Security, and College Graduate/Intern salary data now available–

Pearl Meyer today announced from WorldatWork’s 2018 Total Rewards Conference the release of three unique, comprehensive surveys that will enable human resources professionals to better understand the current trends in hiring and compensating in-demand segments of the workforce. Each of these periodic reports, updated for 2018, includes detailed information that cannot readily be obtained from other data sources.

“What makes these surveys especially useful to HR teams is that in addition to extremely granular salary data, they also include information on hiring policies and practices,” said Beth Florin, managing director at Pearl Meyer and lead for the firm’s survey practice. “When companies are facing a tight labor market, as is the case currently, this level of detailed data can aid substantially in recruiting and retention efforts.”

2018 Job Titling Practices Survey
Pearl Meyer’s Job Titling survey provides an in-depth analysis of the competitive practices of 219 companies, which is summarized in total, as well as by industry and firm revenue size. The information provided covers individual contributors through C-suite executives in a wide variety of job functions. Key findings include:

Seventy-seven percent of firms reporting indicate that job titles accurately convey the organizational hierarchy;
Fourteen percent note that the use of job titles is a result of organizational politics; and
Fewer than 10% use job titles to recognize/reward employees when budgets are limited.
2018 Cyber Security Compensation Survey
In the emerging and highly competitive field of cyber security, Pearl Meyer’s survey of 96 companies offers clear descriptions of job families and levels, details on total compensation, sign-on and retention programs, and turnover rates for cyber security professionals. The data is broken down into 12 U.S. geographic regions. Key findings include:

Between 2015 and 2017, the turnover rate for cyber security professionals has risen from 13.5% to 17.7%;
Offer acceptance rates have decreased in the same time period by 15%; and
Fifty-four percent of firms are experiencing “significant or extreme difficulty” hiring expert-level staff.
2018 College Graduate and Intern Compensation Survey
The College Graduate and Intern survey collects a broad range of information on compensation for major areas of study and various degree levels in multiple geographic regions from more than 100 participating companies. The report features average hiring rates and starting salaries, hiring guidelines, and top MBA program data. Key findings include:

Fifty percent of organizations are making offers to prospective graduates in the fall of their senior year;
More than 75% of responding organizations are offering strategic college hires a signing incentive; and
More than half are offering relocation packages.
Additional Resources

For information about purchasing one or more of these surveys, visit http://store.pearlmeyer.com
See Pearl Meyer’s full catalog of salary surveys

Top Stories

Spain’s jobless hit four million for first time in five years as pandemic curbs bite

Published

on

Spain's jobless hit four million for first time in five years as pandemic curbs bite 1

By Nathan Allen and Belén Carreño

MADRID (Reuters) – The number of jobless people in Spain rose above 4 million for the first time in five years in February, official data showed on Tuesday, as COVID-19 restrictions ravage the ailing economy.

Since the onset of the pandemic, Spain has lost more than 400,000 jobs, around two-thirds of them in the hospitality sector, which has struggled with limits on opening hours and capacity as well as an 80% slump in international tourism.

Jobless claims rose by 1.12% from a month earlier, or by 44,436 people to 4,008,789, Labour Ministry data showed, the fifth consecutive monthly increase in unemployment.

That number was 23.5% higher than in February 2020, the last month before the pandemic took hold in Spain.

“The rise in unemployment, caused by the third wave, is bad news, reflecting the structural flaws of the labour market that are accentuated by the pandemic,” Labour Minister Yolanda Diaz tweeted.

Restrictions vary sharply from region to region in Spain, with some shutting down all hospitality businesses, though Madrid has taken a particularly relaxed approach and kept bars and restaurants open.

A total of 30,211 positions were lost over the month, seasonally adjusted data from the Social Security Ministry showed. It was the first month more positions were closed than created since Spain emerged from its strict first-wave lockdown in May.

Still, the number of people supported by Spain’s ERTE furlough scheme across Spain fell by nearly 29,000 to 899,383 in February.

“These figures have remained more or less stable since September, indicating that the second and third waves of the pandemic have had a much smaller effect than the first in this regard,” the ministry said in a statement.

Hotels, bars and restaurants and air travel are the sectors with the highest proportion of furloughed workers, it added.

Tourism dependent regions like the Canary and Balearic Islands have been particularly hard hit, with the workforce contracting by more than 6% since last February in both archipelagos.

The last time the number of jobless in Spain hit 4 million was in April 2016.

(Reporting by Anita Kobylinska, Nathan Allen and Belén Carreño, Editing by Inti Landauro, Kirsten Donovan and Philippa Fletcher)

Continue Reading

Top Stories

Pandemic ‘shecession’ reverses women’s workplace gains

Published

on

Pandemic 'shecession' reverses women's workplace gains 2

By Anuradha Nagaraj

(Thomson Reuters Foundation) – The coronavirus pandemic reversed women’s workplace gains in many of the world’s wealthiest countries as the burden of childcare rose and female-dominated sectors shed jobs, according to research released on Tuesday.

Women were more likely than men to lose their jobs in 17 of the 24 rich countries where unemployment rose last year, according to the latest annual PricewaterhouseCoopers (PwC) Women in Work Index.

Jobs in female-dominated sectors like marketing and communications were more likely to be lost than roles in finance, which are more likely to be held by men, said the report, calling the slowdown a “shecession”.

Meanwhile, women were spending on average 7.7 more hours a week than men on unpaid childcare, a “second shift” that is nearly the equivalent of a full-time job and risks forcing some out of paid work altogether, it found.

“Although jobs will return when economies bounce back, they will not necessarily be the same jobs,” said Larice Stielow, senior economist at PwC.

“If we don’t have policies in place to directly address the unequal burden of care, and to enable more women to enter jobs in growing sectors of the economy, women will return to fewer hours, lower-skilled, and lower paid jobs.”

The report, which looked at 33 countries in the Organisation for Economic Co-operation and Development (OECD) club of rich nations, said progress towards gender equality at work would not begin to recover until 2022.

Even then, the pace of progress would need to double if rich countries were to make up the losses by 2030, it said, calling on governments and businesses to improve access to growth sectors such as artificial intelligence and renewable energy.

Laura Hinton, chief people officer at PwC, said it was “paramount that gender pay gap reporting is prioritised, with targeted action plans put in place as businesses focus on building back better and fairer”.

Britain has required employers with more than 250 staff to submit gender pay gap figures every year since 2017 in a bid to reduce pay disparities, but last year it suspended the requirement due to the coronavirus pandemic.

(Reporting by Anuradha Nagaraj @AnuraNagaraj; Editing by Claire Cozens. Please credit the Thomson Reuters Foundation, the charitable arm of Thomson Reuters, that covers the lives of people around the world who struggle to live freely or fairly. Visit http://news.trust.org)

Continue Reading

Top Stories

German January exports to UK fell 30% year-on-year as Brexit hit – Stats Office

Published

on

German January exports to UK fell 30% year-on-year as Brexit hit - Stats Office 3

BERLIN (Reuters) – German exports to the United Kingdom fell by 30% year-on-year in January “due to Brexit effects”, preliminary trade figures released by the Federal Statistics Office on Tuesday showed.

In 2020, German exports to the UK fell by 15.5% compared to 2019, recording the biggest year-on-year decline since the financial and economic crisis in 2009, when they fell by 17.0%, the Office said.

“Since 2016 – the year of the Brexit referendum – German exports to the UK have steadily declined,” the Office said in a statement.

In 2015 German exports to the UK amounted to 89.0 billion euros. In 2020, German they totalled 66.9 billion euros.

Imports to Germany from the UK totalled 34.7 billion euros in 2020, down 9.6 % compared to 2019.

(Reporting by Paul Carrel; Editing by Madeline Chambers)

Continue Reading
Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.

Call For Entries

Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Latest Articles

Newsletters with Secrets & Analysis. Subscribe Now