More than 40% of financial services’ senior human resources professionals identified a stronger focus on pay issues over the next 12 months than on other HR changes, according to a poll conducted by global professional services company Towers Watson. The survey respondents noted risk adjustments to financials or incentive pools as the most expected shift in pay policies, and a focus on pay issues rather than other changes, such as linkage of deferred vehicles to business unit performance (16%) or longer vesting periods (15%).
The Towers Watson poll included 130 senior human resources professionals from more than 60 of the largest global banking and financial services organizations in the world. More than a third of those respondents noted pay issues as the most important HR priority, followed by talent acquisition (23%) and the redesign of the employee value proposition or “deal” (20%). Further, two thirds of the group believe that public officer executive base salary levels have not yet stabilized, while there was general agreement that base salary levels for lower-level employees have stabilized.
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