Timely merger to help firms boost pay packets
30 October 2008
Timely merger to help firms make pay packets measure up
Longstanding remuneration advisors Strategic Pay and Higbee SchÃ¤ffler have merged to form New Zealand’s largest specialist remuneration consultancy.
The merger will provide employers with timely access to a rich source of market intelligence and advisory services as firms negotiate pay packets in challenging economic conditions.
“Both businesses share a common vision about enabling effective workforces by providing customised remuneration and performance solutions. We have gained strong reputations for innovative approaches suited to the New Zealand market. Our combined strength provides a one stop shop for local businesses wanting to audit, benchmark and re-design their remuneration systems and become more performance-driven,” said Dennis O’Callaghan, Managing Director and founder of Strategic Pay.
Strategic Pay and Higbee SchÃ¤ffler have each operated in New Zealand for over 10 years. This merger is the second one for the company following on from an acquisition of the PricewaterhouseCoopers Remuneration Division in 2004. The new consultancy has a client base of more than 600 organisations, and a database of over 100,000 employees. The merger unites two powerful market research functions, bringing together more than 20 cross-industry and niche market surveys.
Higbee SchÃ¤ffler Director Helene Higbee said that access to better and broader comparative information will enable clients to more effectively benchmark remuneration and rewards, and demonstrate rigour in their decision-making.
“Remuneration is a sensitive subject, and has been a high profile issue recently especially at executive level. Not only do employers need to ensure that the remuneration they offer is competitive, they often need to be able to show that it’s consistent with pay for other comparable roles. The new data sources brought together under the merger will help our clients to demonstrate that they’ve done their homework,” said Ms Higbee.
Strategic Pay and Higbee SchÃ¤ffler have offices in Auckland, Wellington and Dunedin, and employ a total of 24 staff. In addition to the merged data sources of the two firms, clients will benefit from world-leading technologies designed to ensure that information can be accessed and applied to maximum advantage.
“With the economy slowing and a level of uncertainty about what lies ahead, employers need to stay in touch with the market and make wise decisions about how they reward their staff. The merger will help them to do exactly that,” said Dennis O’Callaghan.
Mr O’Callaghan said that the combined resources of Strategic Pay and Higbee SchÃ¤ffler would enhance the ability of both firms to continue to deliver a service designed to promote a competitive advantage.
“As well as providing a compelling employment proposition that attracts, retains and motivates the best people, an effective remuneration strategy should link closely to business objectives and drive performance. As a result of the merger Strategic Pay and Higbee SchÃ¤ffler are better placed than ever to help employers reward what matters, with rewards that matter,” he said.