Resignations
among HR managers have increased in the year to January 2004, according to a
new survey.
Research
by the Chartered Management Institute (CMI) and salary survey specialists
Remuneration Economics surveyed 21,987 managers, and also found major changes
to lifestyles and employee reward schemes since the survey began 30 years ago.
The
2004 National Management Salary Survey shows that despite a growth in the
number of bonus payments, the average total bonus fell by almost £500, from
£3,955 in 2003, to £3,509. Combined earnings for HR managers rose by only 0.7
per cent, from £43,263 to £43,571.
More
than 6 per cent of HR directors and managers resigned from their posts,
compared with 5 per cent in the year to January 2003.
Managers
in the chemical industry currently top the ‘earnings league table’ on £55,359,
with those in retail earning the least on £35,748.
Resignations
are highest among professionals in business service functions (8.6 per cent)
and human resources (6.2 per cent). But in manufacturing, only 1.5 per cent of
labour turnover is accounted for by voluntary resignation.
The
most loyal executives are in the West Midlands, where only 2 per cent resigned
in the last year.
Petra
Cook, head of policy at CMI, said: "The increase in resignations is a
major concern because, unchecked, it will impact upon the future strategic
development of UK organisations.
"There
is also a growing need to develop benefits packages to suit a range of
lifestyles as employees are clearly focusing on the value of their remuneration
package as a whole before deciding whether to change jobs," she said.
