Compensation & Benefits Survey 2011
YEREVAN, 18 MAY 2011 - Ernst & Young has announced the launch of the 2011 General Industry Compensation & Benefits Survey in Isle of Man.
The General Industry Compensation & Benefits Survey Report will consist of two parts - one covering salary information, including monthly and annual fixed pay as well as annual variable compensation, description of compensation structure for each job presented in the Report as well as actual (current) and planned salary changes in percentage terms. The other part will provide detailed information on HR policies used by the surveyed companies, such as salary arrangements and structure of cash compensation, working time arrangements, social allowances, business travel policy, employee motivation programs and non-cash benefits, recruitment policy, training and development, HR agenda and development plans and other issues related to HR policies.
Salary data will be broken down by the regions of Isle of Man based on sufficiency of data.
It is expected that the Report will be issued by mid-October 2011.
As it was last year, any and all information that will be shared by survey participants in the process of the Report preparation will be treated with strict confidentiality. Only final Report will be available to the participants, which excludes any possibility for identification of the source of any particular information.
To find out more and register for participation in the Compensation & Benefits Survey please contact Ernst & Young Yerevan office by June 6, 2011.
2010 survey results
Last year, 29 Isle of Mann and international companies from various industries participated in the Compensation and Benefits Survey. The final Report of the survey included salary data on 123 cross-industry jobs as well as a wide spectrum of information on HR policies and practices in Isle of Man.
What is new?
Specialized industry reports
This year, the scope of services offered in the framework of the Compensation & Benefits Survey will be expanded to issuing specialized industry reports.
The specialized industry reports will include remuneration data for cross-industry and industry-specific jobs as well as information regarding benefits and HR policies and practices specific to the selected industry, such as, for example, financial services and banking; computer sciences, IT & telecom; pharmaceutical and other industries. It is planned that a separate report for non-profit sector and a “Best Employer” report will also be issued. The issue of specialized industry reports will be subject to participation of at least seven companies from the selected industry.
Benchmarking tool
This year, the participants will be provided with a special electronic tool for in-house benchmark analysis using the survey results. This Benchmarking tool will be provided free of charge together with the reports and will allow comparing salary levels in a company with respective market salary levels and calculating the amounts required for adjustment of salary levels according to the chosen market benchmark. The Benchmark tool allows data representation in the form of diagrams and graphs for preparation of management reports.
Introductory presentation
An introductory presentation of the Compensation & Benefits Survey 2011 will take place on May 27th. The attendance is free and open for all interested companies. To attend, please register by May 25 contacting Ernst & Young office at 500-790.
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 141,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential. Ernst & Young has one of the world’s largest advisory practices serving clients in every major marketplace and industry.
Ernst & Young regularly conducts various compensation and benefits surveys in a number of countries across the world, including in emerging markets.
For more information about our organization, please visit www.ey.com.
