BC Tech Industry: Implementing Strategies to Save Jobs
Thursday, September 17, 2009
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Vancouver, BC, September 17, 2009--(T-Net)--Salaries have been frozen this year in BC tech sector companies, in response to the current economic challenges. Companies are positioning themselves to ride out the storm and seize opportunities as they arise.
The HR Tech Group announced results of the 2009 High Tech Compensation Survey today. Now in its 18th year, this survey is the leading salary survey for the BC tech industry and is produced by Watson Wyatt. Representing 70 tech companies in BC, with more than 9,000 incumbents, the survey suggests fewer salary increases over last year.
With payroll often one of the larger expenditures in a business, freezing salaries saves costs, which in turn will save jobs. This year 67% of the respondents have implemented a salary freeze. Last year, only 7% of companies implemented a salary freeze. Additionally, this year 2 companies reported salary rollbacks, where salaries were decreased for both employees and management.
Despite the increase in salary freezes, some companies did provide raises, often to recognize high potential employees. This year’s overall salary increase across all companies and positions was 1.9% - down from last year which was 4.2%.
Encouraging news for employees is that companies are budgeting for a 2.3% salary adjustment for next year, demonstrating cautious optimism that 2009 will have been the most difficult year, and that businesses are ready to move forward in better times.
Jobs that held steady in their wages, or that increased slightly included:
Software Engineers – Tech companies in BC continue to employ a strong base of software developers with specialized skills in the IT sector. Entry level wages for a Software Systems Engineers are $52,200; with a Fully Competent Software Systems Engineer (minimum 3-5 yrs experience) earning $79,200 total cash.
Animators – Salaries went up slightly, due to the competition among new media companies for experienced and creative skills. Average total cash for an Intermediate Animator (minimum 2 yrs experience) is $67,500.
Engineers – (mechanical, industrial, structural, chemical, etc) Salaries held steady and increased in these categories. This is in response to last year’s huge pressure on engineering salaries to compete with the Alberta oil/gas demand for talent.
The key issue for HR in tech companies, as identified in the survey, is Employee Engagement (#1), followed by Leadership Development (#2). “BC tech companies are doing a great job of managing through the recession,” says Allison Rutherford, Executive Director, HR Tech Group. “In order to keep the business moving forward and ready to seize on opportunities, companies are focusing on their people. The technical knowledge that employees have is hard to replace, and businesses want the team working together. Leadership development is critical in these times – you need a strong leader to engage with staff to drive the business ahead”, adds Rutherford.
The HR Tech Group is presenting the Human Capital Symposium on Tues Oct 27th at The Hyatt in response to these demands. This one-day symposium will focus on “Best People Practices for Business Success” – a choice of sessions related to topics like employee engagement, leadership development, attracting key talent, and performance management. Luncheon keynote Phil Harkins, CEO of Linkage Inc., is an internationally-known expert and author on leadership, having worked with hundreds of companies including Raytheon and McKesson Medical Imaging. His presentation “Leading in Hard Times” will deliver information on leadership decision making in tough times.
About the HR Tech Group
The HR Tech Group is a professional forum for human resources professionals employed in the BC technology industry. Now in its 18th year, the High Tech Salary Survey, conducted by the HR Tech Group in partnership with Watson Wyatt, is the de facto tech salary survey for HR professionals in BC. It represents data from 70 mid to large tech BC companies and is available to non-member organizations and individuals to purchase. For more information visit www.hrtechgroup.com
About Watson Wyatt Data Services
Watson Wyatt Data Services (WWDS), a wholly-owned subsidiary of Watson Wyatt Worldwide, is a leading provider of compensation, benefits and employment practices information to the global employer community. From offices around the world, we solicit, analyze and publish an extensive library of online, printed and interactive survey reports. Our compensation databases are recognized worldwide as the most reliable source of current data for compensation planning.
Media Contact
Allison Rutherford
Executive Director
(604)874-2653
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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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