Written by Natasha Stone on December 3, 2019.
We are proud to have published our 12th Annual New Zealand Remuneration Report for September 2019.
This report contains detailed data from 171,388 individual employees from a total of 544 participating organisations; 355 from the private sector, 173 from the public sector and 16 not for profit organisations. It contains comprehensive remuneration information by Job Size (Grades and SP10 points) as well as by analysis of sector, region and function.
The objective of this report is to provide comprehensive information on remuneration and benefits across the New Zealand market. This comprehensive remuneration survey covers roles from executive level to support/administration and covers the functional areas including Administration and Support, Engineering / Technical, Finance and Accounting, Manufacturing Operations, Trades and Labouring and many more.
Organisations often use a remuneration strategy to define how they view and manage employee pay and benefits. The remuneration strategy serves as a guide that clearly articulates the organisation’s approach to managing employee remuneration. Market comparison policies outline the components used in such remuneration policies. It refers specifically to the components used as the basis for market comparisons and typically includes the source, the market comparator i.e. sector, industry or job, the market position or statistical comparator and the remuneration comparator.
The report is set out in two modes allowing accurate market comparators:
- Comparisons by Job Size
- Comparisons by Function and Location
- The report shows that overall movements in the levels of median fixed remuneration from September 2018 – September 2019 have increased for general staff and executive positions while it has decreased for middle management.
- Organisations were asked to forecast the overall payroll increase anticipated for the year to September 2020 with the average rise in payroll anticipated by 345 respondent organisations to be 3.0%.
- The indexing of salary movements to CPI is traditionally argued by union advocates as the fairest mechanism for wage-fixing. A declining number of organisations establish pay movement in this manner.