Compensation and job benefits survey for Cayman

| 02/03/2015 | 0 Comments

(CNS Business): Officials from PricewaterhouseCoopers (PwC) and the Cayman Islands Society of Human Resource Professionals (CISHRP) will meet this Friday to discuss the first Compensation and Benefits Survey conducted by these two organisations.

Compensation and benefits surveys provide a current look into the compensation landscape for the area and industry, and to find out what other businesses are offering to their employees to become more competitive. The comprehensive data collected from this survey can provide a company with a clear competitive advantage, and help companies attract, retain and motivate their employees.

“Companies in these sectors operate in a highly competitive environment where it is critical to have comprehensive data on how to reward, attract and retain the best talent,” stated Alistair McNeish, Managing Director of PricewaterhouseCoopers Human Capital Consulting Ltd.

Compensation and Benefits Survey

This Friday at the CISHRP breakfast meeting at George Town Yacht Club, McNeish will discuss the survey in more detail. The deadline for data submission for the new Cayman Islands survey is 30 April . The results are expected to be available by July 2015.

PwC officials stated that for the past 16 years they have been successfully running a similar survey in Bermuda. This survey detailed 180 positions at 60 companies, representing over 3,000 employees across key industry sectors.

“PwC’s report is the most comprehensive compensation survey in the Bermuda market,” McNeish said.

As for how it works, officials said participants supply their data to PwC on a confidential basis through an online survey, and every effort is made in our reports to protect the identity of companies and individuals when analysing the data. Information is presented in such a way as to protect the identity of the companies that provide information, while still presenting meaningful comparative data on compensation and benefits. The data processing and data retention all take place in Bermuda to protect and retain confidentiality.

“We intend to provide the Cayman Islands with the same high quality data and reporting as our industry leading Bermuda survey,” said McNeish. He adds,” We are confident that the results will assist decision-makers and HR professionals to develop competitive policies that attract, motivate and retain the talent needed to support their business strategy.”

Tags: ,

Category: Employment, Local Business

Please include your email address in the form below if you are using your real name. You can use a pseudonym, with or without leaving an email address, or just leave the form blank to be "Anonymous". All comments will be moderated before they are published. The CNS Comment Policy is at the top of this page.

This site uses Akismet to reduce spam. Learn how your comment data is processed.