According to a wealth of new data released by Reed HR, compensation across the HR industry grew last year, despite a generally rocky year for the sector.
Whilst some may assume that compensation for HR specialists has stagnated, from analysis of 7.5million jobs posted since the start of 2016, the research found that salaries in the HR sector grew by an average of 1.9% going into 2020, despite a downturn in the number of roles advertised. This growth has resulted in an average salary across the sector of £45,400, compared to the 2018 figure of £44,600.
Tough trading conditions were reinforced by business and consumer uncertainty caused by the world economic climate and Brexit saw a significant shakeup in senior leadership teams at many firms last year, in which HR was affected.
Yet, the sector has been able to largely maintain salary levels since 2017 and is now experiencing a period when salaries across the board are on the rise again.
Of the salary increases identified, some roles have benefitted more than others in the last year. And, the biggest percentage of wage increases can be seen above the £40,000 mark, including rewards managers (seven per cent) and HR directors (4.8%).
For salaries below £40,000, roles with the highest salary increase included HR administrators (5.6%) and recruitment co-ordinators at 2.5%.
In addition to the reported leading salary growth witnessed in the HR sector over the past 12 months, this was not the fastest growing sector. The technology sector experienced a 13.8% growth in advertised roles and engineering saw an increase of 0.9%.
The highest rate of average salary increase was for hospitality and leisure workers at 6.1%. This was followed by procurement roles (5.2%). However, the HR sector holds a much higher average salary for its executive roles of £45,400 verses £31,000 for hospitality.