Findings from 2015 KPMG Remuneration Surveys
In line with KPMG’s mission to inspire confidence and empower change, we are pleased to present the summary of findings from the remuneration surveys we conducted across key sectors of the economy in 2015. Our objective is to equip stakeholders with the right information and empower them to take informed and accurate decisions that can potentially save cost for their companies, at a time of heightened focus on cost containment and sustainability.
In spite of the recession, HR/Reward practitioners must keep up to date with trends and developments on pay. Remuneration offers a great opportunity to drive new strategic imperatives by continuously seeking ways to enhance attraction, retention and motivation of top talents in a cost-effective manner.
We observed a slowdown in actual pay increases, owing to the persistent economic slowdown. The increase in 2015 was about 10%, compared to about 12% noted in 2014. In our view, the 2015 increases are mainly driven by collective bargaining agreements with employee unions.
The survey covers one hundred and twenty one (121) companies spanning various sectors, with turnover ranging from about N1 billion to N600 billion, and staff strength of up to 10, 000 employees, as shown below:
Please download the infographic details of the survey here
For more information:
Partner, Tax, Regulatory & People Services
T: +234 803 402 1014