ZW HR Consulting Singapore Launches 2015 HR Salary Guide

April 8, 20152:59 pm834 views
ZW HR Consulting Singapore Launches 2015 HR Salary Guide
ZW HR Consulting Singapore Launches 2015 HR Salary Guide

Positive outlook for Human Resource Professionals and the top 5 HR jobs likely to be in demand this year.

SINGAPORE, April 7, 2015 /PRNewswire/ — Leaders in mid-senior level recruitment, ZW HR Consulting Singapore has launched its first Human Resources Salary Guide for 2015. This guide aims to provide employers and jobseekers alike with a comparative overview of HR salaries in Singapore.

Recent findings by ZW HR Consulting, one of Asia’s largest headhunting and HR consulting firms, discovered some interesting changes in the salary patterns within the diverse field of HR. Due in part to the “value added” services that HR professionals bring to businesses, HR salaries have seen an upward swing as a direct result of the short to long term cost savings by having more efficient and streamlined processes and/or HR related functions internally.

Human Resources is a lucrative profession that increasingly attracts top professionals in Singapore and it has seen an upward growth trend, which is expected to continue, as more companies continue to streamline their people management processes. This includes an increasing number of smaller companies that are adding internal Human Resources Departments for managing their people professionally. As Singapore is a regional hub for many multinational companies (MNCs), the prevalent salaries in this region have become benchmarks for Asia Pacific professionals.

Mr. Mervin Chui, Managing Director, ZW HR Consulting said, “2015 is likely to turn out to be a reasonably good year for HR Professionals. The average salary bands for HR Professionals are up 5% to 10% for 2014/15 as compared to 2013/14 figures. The potential for HR to influence and drive business strategy has never been stronger as employers realize they need to invest in strong HR professionals.”

“Against the backdrop of a talent scarcity across Singapore, experienced skilled professionals can expect to see salary hikes. Employers will have to consider hiking up salaries to keep pace with inflation, to attract the right talent and to retain their critical workforce. This guide will help organizations and talented professionals gain a better understanding of the current state of wage pressures, through the provision of an accurate and transparent contextual comparison for the region,” said Mr. Chui.

Mr. Sunil Dutta, Director for Human Resources Practice at ZW HR Consulting said , “We are seeing a high demand for HR related jobs in various sectors as MNCs and large local firms continue to aggressively expand their presence across the region. This has created new opportunities for more robust and sturdy HR, Compensation & Benefits and Learning & Development professionals with specific industry experience to manage long-term strategies. Overall, there has been an increase in the number of HR roles coming to market at all levels and across various disciplines.”

 

 

Here is the snapshot from the salary guide
Generalist Human Resources – PERMANENT (annual salary)

Role Years’
Experience
Lower
Range
Upper
Range
HR Director 6 – 8 120,000 150,000
10 – 15 160,000 220,000
15+ 240,000 300,000
HR Manager 0 – 3 48,000 60,000
3 – 5 55,000 70,000
5+ 80,000 100,000
HR Business
Partner
0 – 3 48,000 60,000
3 – 5 55,000 70,000
5+ 85,000 110,000
HR Advisor /
Officer/Admin
0 – 3 36,000 39,000
3 – 5 40,000 45,000
5+ 50,000 60,000

The top 5 positions bringing the most “value added services” according to the salary guide are as follows:

REGIONAL COMPENSATION AND BENEFITS MANAGER:
These individuals can make a huge impact upon several critical areas such as salary benchmarking, employee benefits solutions and talent retention.

TALENT ACQUISITION MANAGER:
Talent Acquisition Managers have transformed recruitment into a key and strategic HR function, with the responsibility of Talent Attraction and market mapping a pool of competent external candidates — which would provide an alternative and/or backup to internal succession plans.

HR BUSINESS PARTNER:
The role of a business partner is to integrate business goals with management and employees across various departments promoting efficiency and eliminating waste. A business partner is also expected to be a HR subject matter expert who is able to consult for the business on HR matters, policy and governance.

HRIS LEADER:
The responsibilities of HRIS leaders include maintaining and frequently upgrading information systems, to ensure the smooth running of the HR department.

TALENT MANAGEMENT & ORGANISATION DEVELOPMENT (OD):
This department works in close collaboration with all the heads and the major stakeholders so as to understand their precise needs and thereby address their talent management problems accordingly by placing the right people in the right places.

Lastly, those in HR Generalist positions should see 5% to 10% wage increases for similar positions, over the next year.

As Human Resource professionals continue to provide “value added services” that increase profitability, efficiency and provide the best people for the right positions, they will continue to grow and be compensated for their efforts.

If you would like to learn more about the 2015 Singapore Human Resource salaries or receive a copy of the salary guide, please visit our website www.zwhrconsulting.com.sg or email us at marketing@zwhrconsulting.com 

Read also: 5 Fundamental Shifts Which Dramatically Impact HR Industry

Read more HR NEWS in ASIA

(Visited 1 times, 1 visits today)