HR Tech Group Releases 2007 High Tech Compensation Survey
Tuesday, November 6, 2007
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Vancouver, BC, November 6, 2007--(T-Net)--The HR Tech Group has released its annual tech compensation survey, the largest survey it has produced since collecting this data for over 16 years. The survey is considered the definitive survey for the BC tech industry, capturing data from all tech sectors: IT, wireless, new media, alternative energy and life sciences. This year’s survey includes data on more than 10,000 incumbents, provided by 73 organizations. While the survey is BC-based, the data are relevant for all Canadian tech markets, since several national and international organizations participated.
The survey features all aspects of cash compensation for 165 benchmark positions – from entry level to the top executive, including CEO. Analysis is done by size of organization, industry and ownership.
The BC tech sector has seen continued growth in salaries. Average annual increases for 2007 were 4.6%, with executives receiving an average of 5.3%. There has been a continued increase in the average size of salary adjustments over the previous 3 years (which were 3.7%, 3.9%, 4.3% and now 4.6%). These numbers also indicate that the tech industry is ahead of all other industries in Canada (average Canadian increase is 3.6%). The survey results also indicate a strong economy – actual increases have continued to exceed the forecasted increases consistently over the last 2 years. This suggests that 2008 will continue the upward trend in adjustments.
Clearly technology companies see value in providing long-term incentive programs such as stock purchase or option plans. Attracting and retaining key management was identified by 83% of the companies as a key reason for offering long-term incentive plans. Other key HR issues that were identified include: employee engagement; leadership development and performance management.
For more details, including participant list and list of benchmark positions, and to order the 2007 High Tech Compensation Survey go to http://www.watsonwyatt.com/canada-english/research/hteg/
About HR Tech Group
The HR Tech Group is an association of BC’s Human Resources professionals that work for technology companies. Our mandate is to: promote the strategic value of HR; provide ongoing development to HR professionals; and advance the success of our companies using progressive HR practices. The group provides a networking forum to keep members up-to-date on trends in the industry, exchange information about employment practices, and produces the annual tech salary survey.
For further information on the HR Tech Group go to www.hrtechgroup.com or contact the Executive Director, Allison Rutherford at arutherford@telus.net
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Tech and People Network (TAP Network)
Vancouver, BC (Non-Tech Sectors)
Founded: 1991
TAP Network is a non-profit association for People and Culture professionals in Canada's tech sector, providing members with access to tech sector data, industry experts and an inclusive peer community to drive innovation, collaboration and results.
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