Status Quo On Existing Senior Remuneration
Status Quo On Existing Senior Remuneration Packages
Given the recent media focus on executive remuneration packages, an astounding 76.2% of New Zealand employers have indicated that they are currently satisfied with their existing packages, and only 9.2% of employers indicating that they have changed theirs, according to results in the latest TMP Job Index Survey released today (November 27).
Those that have changed are all seeking to increase packages, according to the results.
TMP Worldwide, New Zealand and Australia’s largest Human Resources company conducts the Job Index Survey on a six monthly basis. The survey combines the expectations of key employment decision-makers, from all major industries, across the spectrum of different organisation sizes.
TMP Worldwide, General Manager – New Zealand, Mr Denis Horner said that Wholesale/Distribution employers (87.5%) were the most likely to be satisfied with their existing senior executive remuneration packages, with Engineering employers (33.3%) the most likely to indicate that they have changed theirs.
“In addition to those employers who had changed their company’s senior remuneration packages, some 5.8% of respondents indicated they were considering reviewing them, with 8.8% indicating they are actively doing so,” Mr Horner said.
There was some variation in responses across the regions with Upper North Island employers (83.2%)more likely than those from the Lower North (74.3%) and South (69.6%) to be currently satisfied with their executive remuneration packages.
South Island employers are more likely to be reviewing their senior management remuneration given the focus on executive remuneration packages.