The total remuneration packages across all responsibility categories have remained relatively stable when compared to last year.
Survey results reveal that during 2013, significant increases were registered in the positions of Marketing Managers and Purchasing Managers. Other increases resulting from this year’s analysis were also evident in the positions of Engineering Managers and Operations Managers.
This information emerges from the extensive research undertaken by MISCO in its compilation of The Salaries and Benefits Report 2013-2014. Based on extensive research of over 5,500 different remuneration packages, this report is the most researched report of its kind published in Malta.
Several different categories of organisations and businesses were interviewed. These include management, executive, clerical, technical and non-manual personnel in various private,foreign-owned and government controlled, service and manufacturing companies. This year’s edition of the study features 17 new job roles, including Call Centre Manager, EHS Manager and Officers, Training and Development Manager, Business Analysts and Sales Executives.
An innovative addition to this year’s report is a report on the findings of a survey highlighting the way the HR function is developing in Malta. It assesses the various aspects of HR, including recruitment, learning and development, pay and reward management and performance management.
The report shows that the categories of Human Resources Managers, Administration Managers and other managerial positions have registered a decrease in the median remuneration packages surveyed. On average, the median remuneration packages of non-managerial grades registered a significant increase. The survey results indicate that there was a decrease in the median salaries for Accounts Clerks and Accounts Executives.
Commenting on the findings, Mr Joseph F.X. Zahra, MISCO’s Co-Founder and Managing Director said that performance related pay schemes have grown in prominence during recent years as employers have increasingly sought effective ways of driving high performance levels by linking employee reward to business objectives and of rewarding and recognising individual effort. In 2014, it is expected that more companies introduce performance related pay and those that already have them, will extend them to a wider range of employees.
“MISCO’s Salaries and Benefits Report is a highly detailed report, the result of a wide range of data collection meetings with company representatives that enable our consultants to understand better the operations of the company, discuss the positions involved, as well as examine the information provided in greater detail. This is why this report is considered a very accurate reflection of the current market conditions and the salaries and benefits currently on offer in our local market. Therefore MISCO encourages employers to use this report as an HR tool, to ensure and provide fair compensation to their human resources.” concluded Mr. Zahra.
Click here to view the list of positions surveyed in this year's report.
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