Year-on-year salaries for human resources staff are rising by as much as 10% of base salary, according to the Robert Walters Salary Survey 2014.
Overall, HR pay is climbing at the sharpest pace in the London financial services market, fuelled by resurgent demand for reward, talent management and learning and development professionals.
Salaries for selected HR roles in Birmingham and the Midlands have been increasing by up to 9% as the region benefits from a number of positive trends, including the expanding number of shared service centres. Research from the survey indicates that demand for business partnering and change management expertise has been particularly high.
Training specialists, compensation and benefits professionals also stand to secure pay rises as the economic recovery continues.
Ben Wood, Manager of HR Recruitment at Robert Walters, comments: “Although some caution remains, recruitment activity has been picking up as companies reverse headcount freezes, generating new roles and new opportunities for HR professionals looking to progress in their careers.
“There are reasons to be optimistic across a number of sectors: banks are ploughing resources back into people management as the sector works hard to repair reputational damage and improve staff morale. SMEs are also taking on HR professionals to administer government auto-enrolment schemes.
“With growth continuing on an upward trajectory, and competition emerging for quality staff, we expect to see renewed attention on attracting and retaining top talent across the market.”
Jonathan Stringer, Associate Director of HR Recruitment at Robert Walters Midlands, notes: “Businesses are increasingly expecting HR teams to help implement change projects, many of which have a direct impact on the bottom line.
“Looking ahead, with companies likely to take a creative approach to pay structures and offer employees more choice about benefits, we expect to see renewed demand for talented professionals across many roles.”