Bay of Plenty Business News February/March 2017

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20 BAY OF PLENTY BUSINESS NEWS February/March 2017 Setting wages a balancing act The minimum wage is set to increase again as of April 1, to $15.75, reflecting a slow but steady climb over the past few years. HR MANAGEMENT AND RECRUITMENT The minimum wage is reviewed annually on December 31, and it would seem that the political pressures of an election year have prompted another increase. Yet this has still provoked criticism about being insufficient and ineffective in addressing the poverty experienced by so many New Zealanders. According to the the Living Wage Movement Aotearoa NZ (LWMANZ), the 2016 figure sits at $19.80 (the 2017 figure is set to be released late this month), a disparity of $4.05. Setting wages is always a balancing act between attracting and keeping skilled workers, and what the company can afford to pay. The Living Wage concept is a figure given to the income necessary to provide workers and their families with the necessities of life, Getting pay right How do you ensure that the right remuneration is paid in the right way to the right employees? How do you choose the right remuneration system for your organisation? If you are not sure about the answers - you are not alone! They are not easy questions. And, they present a challenge for both business owners and HR professionals Understanding remuneration and reward To answer these questions, you need to understand the difference between remuneration and reward. You need to under- such as food, transport, housing and childcare, enabling them to live with dignity and actively participate in society. In other words, it’s having enough money to not merely live hand-to-mouth. It is calculated independently each year by the New Zealand Family Centre Social Policy Unit. The Living Wage is a movement in New Zealand that has been gaining more traction over the past few years, as living expenses continue to rise – which of course are not always in line with wage growth. It’s timely to consider if the raise in the minimum wage is reflective of our current living costs, what the real cost of actually living in our society is, and what this means for employers. Many employers are simply not in a position to offer pay rates around the Living Wage recommendations – so are there other options? Despite concerns about affordability and impact on job losses, the movement has gained some support from local government, major enterprise and advocacy groups. The Wellington City Council adopted the living wage policy in 2013. For serious employers there is the opportunity to become accredited and to utilise their dedication to a stand the factors underpinning remuneration systems and you need to be able to differentiate between pay for jobs and pay for people. What are the factors that underpin remuneration systems? We advise that it includes understanding your organisation’s strategy, the market in which you operate and how you will attract and retain key staff. It is also important to determine how performance is measured and rewarded. There are a number of ways we can assist to upskill you and your team in understanding remuneration Living Wage as a verifiable part of their employee value proposition. However, not all sectors are equal and for some, simply offering an increase in wages does not always represent a sound business proposition. Each employment case is stand-alone when it comes to setting a wage – whether for differing skill levels and experience, the role itself, time in the industry or indeed at your company, and so on. A level of objectivity and balance is always needed, although that is often easier said than done. What it often comes down to is your employer brand and principles – that is, your reputation as an employer and your value proposition to your employees. Have you ever sat down and thought about what that is exactly? How is your company perceived by your current and prospective future employees? Setting wages is always a balancing act between attracting and keeping skilled workers, and what the company can afford to pay. We all know it’s not always about the money. Yes, paying a fair and equitable hourly and reward. Our public and in-house training courses are a great way to build the internal remuneration capability you require to support your wider HR function. They are intended for HR professionals, senior managers and business owners. Tauranga short course We will shortly be hosting our ‘Understanding Remuneration and Reward’ and ‘Getting the Most out of the Annual Salary Review’ half day short courses on 29 March, 9 am – 4 pm at Trinity Wharf Hotel in Tauranga. Fees are $350 plus GST per person per course, or attend two courses and receive a $50 discount per course. To register your attendance, or for further information, please email Samantha at samantha@strategicpay.co.nz or 09 303 4045. Solutions to suit every business Reward consulting is another way we can help. Our goal is to work in partnership with you to ensure the right system for your organisation. This may be looking at the system as a whole, just one facet or just one job. Nigel Murphy, based at Waikato Innovation Park in Hamilton, and Cathy Hendry in Tauranga are your local consultants in Strategic Pay’s Northern Region team. They are available to discuss ways to assist and upskill you and your team. HUMAN RESOURCES > BY KELLIE HAMLETT Director, Recruitment & HR Specialist, Talent ID Recruitment Ltd rate which takes into account today’s cost of living is necessary, but there are other things a company can offer employees if they simply can’t afford to keep up with the Living Wage rates. For example, it’s important to establish what drives your employees – would they value flexible working hours to fit around family or sport? Would it be meaningful for someone Cathy Hendry Senior consultant Strategic Pay Tauranga + mob 027 498 9812 + cathy@strategicpay.co.nz in your team to work from home one day a week? What drives and motivates them to be successful? Remuneration doesn’t always need to be in the form of money and indeed can often be more valuable to work-life balance, with the added value of increasing your employer brand, productivity, staff retention rates – and more often than not, the bottom line. Nigel Murphy Consultant Strategic Pay Hamilton + mob 027 403 1242 + nigel.murphy@ strategicpay.co.nz www.strategicpay.co.nz Cool Job • Hot Location Cool Job • Hot Location For employment solutions across the Bay of Plenty, partner with Talent ID Recruitment and Human Resource Solutions made easy Effective recruitment and Temporary human resource & Contract solutions Staff that save you time Redundancy and money. & Outplacement Permanent Recruitment Solutions Interview Coaching Thoroughly screened and tested candidates that are 100% guaranteed. Temporary & Contract Skill & Psychometric Staff Assessments Redundancy Human & Resource Outplacement Consulting Professional, HR qualified consultants with extensive local knowledge and connections. For employment solutions across the Bay of Plenty, partner with Talent ID Permanent Recruitment Solutions Interview Coaching • Tauranga Skill & Psychometric • Rotorua Assessments • Taupo Human • 0800 Resource 850 Consulting 080 J8738A Partner with the team at Talent ID. • Tauranga Temporary & Contract Staff • Rotorua Redundancy & Outplacement • Taupo • 0800 850 080
HR MANAGEMENT AND RECRUITMENT BAY OF PLENTY BUSINESS NEWS February/March 2017 21 CREATE SUCCESS BY REWARDING PERFORMANCE Strategic Pay provides innovative solutions to organisations for their strategic remuneration, performance development and performance improvement needs. We help improve your overall performance by ensuring employee effort, remuneration and rewards are closely aligned with business objectives. Talk to us about: + Remuneration and Reward + Executive remuneration and performance advice (including incentives) + Organisational Structure and Design Contact us for your complimentary remuneration audit 100% LOCAL Strategic Pay Limited Auckland | Hamilton | Wellington | Christchurch | Dunedin | www.strategicpay.co.nz | info@strategicpay.co.nz Helping organisations succeed through the performance of people Hamilton 07 855 2743 Auckland 09 279 9984 CORPORATE MEMBER MEMBER We have experienced Consultants in both regions who have worked in Industrial, Warehouse, Administration, Trades and Constructions for many years and have supplied temporary, contracting and permanent staff to many companies with excellent results. Speed For many positions, we have an intensive passive network of quality candidates Result Based Fee You only pay for our service if, and when, you appoint a candidate Discretion We are able to provide a confidential advertising and search service Cost Effective We are committed to developing and providing efficient cost effective options for all our clients staffing issues Level 1, Unit 1C, Cnr Peachgrove Rd and Fifth Ave, Five Cross Rd, Hamilton reception@alignzrecruitment.co.nz | www.alignzrecruitment.co.nz J3896P
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