This financial downturn provides a very good opportunity for companies to review the salary structure to ensure that they are fiscally prudent and yet competitive enough to retain talents. It is critical to keep staff compensation in check as they account for a very significant portion of the operation costs, particularly for the advertising industry where the main asset - human capital is highly transient in nature.
In view of this, The Association of Accredited Advertising Agents Singapore (4As), in collaboration with Concentric Human Capital – a leading salary survey provider, are planning to launch the 2009/2010 Advertising Industry Compensation, Benefits and Employment Terms Survey.
This first-of-its-kind HR KPI report will illustrate the competitiveness of the participating company’s workforce against their industry peers. Examples of KPIs that are benchmarked include Remuneration Mix, Employee Value Add, Employee Cost, HR ROI, Staff Ratios and Staff Retention & Advancement.
Survey participants will each receive a detailed report that allows them to benchmark the competitiveness of their pay polices and practices for each surveyed positions. With the survey data, companies can better manage the cost of their talents.
A presentation session was held in November to provide member agencies more information about the key objectives, process flow and report components of the salary survey. A second session will be held on 2 December.
Calling on 4As member to support the initiative, 1st Vice-President of 4As Ted Choo said, “The success of the survey hinges on the level of participation from the 4As members. Thus here is a call to the industry to show your support to make this a beneficial collective industry initiative.”
Agencies who will like to know more can contact the 4As secretariat at email@example.com.