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They usually pay ~6 to 7% (except 2009 financial crisis) increment for average performer, it scales up to ~10% above average, ~15% for good performers. Policy is to manage out people who fall below average rating for 2 consecutive years, so attrition is quite high. |
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Can HR professionals here kindly educate me on the difficulties n perils u face on a daily basis? I seriously need some enlightenment.. I mean..i can understand why some professions make big bucks.. property/insurance sales agents who sacrifice their evenings, wkends, hols to meet clients..investment bankers working 100hrs/wk closing multi million dollar deals..consumer bankers who make 10/20k a mth facing the stress of meeting sales targets daily..consistent poor performers would be asked to pack n go..traders/dealers who hv to be fast n accurate all the time, with no margin for mistakes.. but HR? Making close to 10k a mth at AVP level? not even a VP or Head of dept yet..i bet even some of the junior fund managers/research analysts at insurance firms are making lesser than HR. Someone pls educate the ignorant me the challenges of HR functions.. |
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It's hard to describe HR as a whole because layman mostly see us as a universal "HR", but most of us in HR dont really share this same identity. HR has a few key areas & they are all very different from each other. Most of the HR people layman know is from the admin side, which also happens to be the lowest paid & least career progression. |
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Also, how can a HR personnel contribute in each year to justify such kind of huge increment and fast promotion you have recieved? You must be someone that can help your company either save Millions or make millions of dollars. |
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For eg in my area of talent development, some companies may engage 3rd party consultants for help in formulating strategies or framework, but nobody will outsource the entire process. What you are referring to is PPO / RPO which is a small subset of HR. Most employees in my company will not know me since I do not handle their day to day operations. I do not know about insurance industry, but my guess is since it is a finance based company, their Total Reward team is likely more developed and comprehensive. |
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Safety is under EHS and the role sounds like those that nobody want so anyhow park under HR. It has nothing to do with BP/COE. Once you get stuck in the HR ops area, the pay & promotion is very slow. Many years ago when I wanted to get into HR, I also naively took up a internal comms role that is not part of HR but parked there for convenience thinking that I cross over to the culture and change management roles I like in the future. It was a waste of time because the work nothing to do with HR and my daily interaction is limited to HR ops/admin. The BPs & COEs never considered me as part of their team. In the end I had to get take a pay cut to get into a HR management consulting firm before jumping back now to do an organizational change role I like. |
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