Do you feel you’re being fairly remunerated for the Health & Safety job you do?
Want to benchmark your remuneration or that of your safety team?
The 2024 HSE Remuneration Report recently published by the HSE Recruitment Network is here to answer your queries.
The report delves into the average salaries, bonus expectations, and the most esteemed employee benefits across various HSE roles, shedding light on the remuneration trends and priorities within the industry alongside equipping you with statistics around diversity data for each level. In addition the report showcase expert industry commentary from Martin Bardle at Reckitt.
One notable revelation from the report is the clear correlation between years of experience and salary levels across different HSE roles. For example, experienced HSE Advisors witnessed an average salary increase of 8%. However, a distinct gender disparity exists within the HSE profession, with a majority of respondents perceiving themselves as fairly remunerated being predominantly white males.
When it comes to annual bonuses, nearly half of the respondents anticipated a bonus, with expectations ranging from 8% to 10% on average. Significantly, a substantial proportion of bonus expectations were contingent on meeting safety Key Performance Indicators (KPIs). Role-specific insights further emphasized variations, with HSE Managers, particularly in London, anticipating a 10% bonus, and Directors exhibiting the most variability, with the highest bonus reaching 25% of overall earnings.
The report also sheds light on the most esteemed employee benefits across four main categories: Financial, Flexibility, Physical, and Mental. Notably, a car allowance or access to a company vehicle emerged as the top financial benefit choice, preferred by 47% of HSE professionals. Hybrid and remote working benefits continued to top the desired benefits, reflecting a strong inclination towards aligning with a flexible company culture. Interestingly, this is a contradiction of trends observed across the sectors with many employers encouraging onsite working, the report highlights this trend with reference to a recent study by Oktra.
There has been a significant uptick in the demand for employee assistance programs, with 56% identifying it as their top mental health benefit choice. More than half of the respondents highly valued private medical insurance, indicating a shift in perspectives on health and well-being post the global pandemic.
The implications of these insights are far-reaching for both employers and HSE professionals. Employers are urged to carefully consider the evolving priorities of HSE professionals when structuring compensation and benefits packages. The report’s emphasis on flexibility, mental well-being support, and financial perks highlights the changing landscape of employee expectations within the HSE sector.
For HSE professionals, the insights serve as a benchmark for evaluating their own remuneration packages, understanding industry trends, and informing career decisions and negotiations, particularly regarding bonus expectations and the importance of specific benefits.
In conclusion, the 2024 HSE Remuneration Report not only provides a snapshot of the current compensation and benefits landscape within the HSE industry, but also serves as a valuable guide for employers and HSE professionals, reflecting the evolving priorities and trends shaping remuneration within the sector.
To access the full report and gain deeper insights, click here:
To discuss the findings of the report, please contact Laura Aucott – Associate Director at HSE Recruitment Network [email protected]