Know Your Worth as an HR Professional? Compensation Survey Provides Key Resource
Knowing the full range of your worth as an HR professional in British Columbia and the Yukon just became a whole lot easier—thanks to the efforts of Western Compensation & Benefits Consultants (WCBC) on behalf of CPHR BC & Yukon.
A key milestone in the value of member benefits was unveiled at the 2017 HR Conference + Tradeshow in May 2017 which speaks directly to the career arcs and aspirations of HR professionals and their teams. Moreover, it is one which has been expressly requested by membership for some time. This makes the “Compensation Survey of HR Positions in British Columbia & Yukon” prepared by WCBC not only a first of its kind, but an invaluable component of CPHR BC & Yukon’s membership canon.
“What WCBC has done is something our members have been after for a long time and that we have needed collectively as a profession—a defining document that speaks to the true scope and value of HR,” says Anthony Ariganello, CPHR, president and CEO of CPHR BC & Yukon. “Having numbers that speak directly to the levels and specialties within our profession from within our own backyard provides a critical benchmarking tool for individuals and organizations alike.”
Full Scope Sets HR Benchmarks
Providing a comprehensive range of compensation and benefit consulting services, research and market benchmarking are fundamental pillars of WCBC’s practice, serving Canadian and international clients for over 35 years. As a result of their long-standing relationship with the association, when CPHR BC & Yukon expressed a desire to provide members with HR compensation information, WCBC embarked on a comprehensive survey surpassing expectations.
Designed and conducted by WCBC in March/April 2017, the survey covers all levels and areas within HR, 35 in total, as well as including all components of compensation. Drawing upon input from 295 organizations across a wide spectrum of industry, and from a total of 973 employees, the survey data now available to CPHR BC & Yukon members is both the richest and most reliable of its kind.
Embarking on a deep data dive, WCBC has provided a powerful lens of insight for HR professionals regardless of where they are in their career. The compensation survey drew from all sectors of the economy, including privately-owned private sector companies (54 percent), not-for-profits (18 per cent), the public sector (15 per cent) and the publicly-traded private sector (13 per cent). Organization size was similarly diverse, with the total number of employees ranging from 100 or less (28 per cent), 101 to 250 (28 per cent), 251 to 500 (20 per cent) and more than five hundred (24 per cent).
Bigger Pictures Emerge
And while the specific figures are what will most likely attract what HR professionals to the “Compensation Survey of HR Positions in British Columbia & Yukon,” some interesting observations have already emerged on a broader scale. Case in point:
- salary ranges are used most prevalently in the public and not-for-profit sectors, while the private sector yields greater incentive-driven compensation scenarios;
- professional level salaries are similar in all regions, with higher manager level salaries in Metro Vancouver being a stand-out;
- while manager level positions and above are typically eligible for bonuses, they are not uncommon for professional and administrative positions; and
- the most common perks for HR professionals include CPHR membership and L&D opportunities, travel/transit subsidies, mobile and home computing platforms, and health and wellness allowances; and
- comprehensive health and wellness programs are provided, including a full range of group benefits and retirement plans.
A Benefit to All HR Professionals
“We approached the survey on compensation for CPHR BC & Yukon with the same quality requirements of our best clients, and though no small task, it is an investment on behalf of the bigger picture for HR professionals and the Association’s efforts on their behalf,” says Barry Cook, partner with WCBC. “There has always been a potpourri of benefits for the CPHR BC & Yukon members, but until now, there has been no access to this info from any other source.”
The “Compensation Survey of HR Positions in British Columbia & Yukon” is available as a benefit to all members of CPHR BC & Yukon and can be downloaded at cphrbc.ca.