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Know thy worth – HR salary trends - HR Leader Magazine issue 197
David Owens, Managing Director of HR Partners discusses HR salaries which are set to gradually increase following tough economic times.
Increasing HR’s earning power
There are a number of things that HR professionals can do to increase their earning power. On an individual basis, David Owens says it’s important to add value, contribute to the effectiveness of the organisation, innovate and be commercial in your implementation of HR knowledge.
"Make yourself indispensable, be the go-to person for know-how, if you are not participating in a bonus scheme propose a scheme – establish your KPIs, communicate these to all concerned parties and drive your own performance in response to the key measures," he recommends.
"How better to prove your willingness to be considered a fully fledged member of any leadership team than offer to participate in the same assessment and reward program as the majority of performance sensitive employees. Finally, regularly exceed your KPIs – that should do the trick."
If you take away only one thing
David Owens predicts a distinct move to a HR talent shortage in the next three to six months. "The number of HR opportunities being handled by HR Partners has doubled since the beginning of February, and by July I expect the market to be even hungrier," he says.
"In short remuneration for successful and effective HR professionals is headed up, and it's hard to see how the bubble can be burst. In fact I think because of the increased appetite within organisations for HR to manage flexibility, diversity and workforce planning, the opportunities for HR professionals to make a meaningful contribution have just improved and expanded even more. With a future this bright HR people are going to need to wear shades."
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