Sam Redhead’s Post

Part 3 of Hiperpool’s MBB Global Salary Index: Purchasing Power After looking at gross salaries and net salaries in each country, we have now incorporated cost of living (including rent) to compare purchasing power across the group. To generate the proprietary purchasing power score, we’ve used net salary figures and triangulated cost of living from three reputable indices. The scores are relative to the lowest scoring country, with a baseline index of 1. If you’d like to check out Part 1 (gross salaries) and Part 2 (net salaries) please follow the links below. https://lnkd.in/eq6KpT7X https://lnkd.in/edw-gtwT We will compile all three parts, along with the great input and feedback received, into a final comprehensive report soon.

Here's Part 2 of Hiperpool's MBB Global Salary Index 💥 Part 2 incorporates local tax rates to display net base salaries for each country and presents some interesting insights 💡 #salary #salarytransparency #salaryinsights #MBB

Part 2 of Hiperpool’s MBB Global Salary Index: Net (Take-home) Salaries. Building on Part 1 of this index where we examined gross base salaries, we now incorporate standard tax rates in each country to present net (take-home) base salaries - all standardized to USD. If you haven't yet seen Part 1, you can follow the link below for the gross salary analysis and the methodology behind this index. https://lnkd.in/eq6KpT7X It's important to note that taxes vary based on multiple individual factors and circumstances, such as other income, marital status, and citizenship. For countries where taxes vary by city or state, we've used the average tax rate across the relevant cities/states. Stay tuned for Part 3, where we'll delve into the cost of living to illustrate how all this translates to purchasing power in each country. We will also compile all three parts, along with the great input and feedback received, into a final comprehensive piece.

The staff costs trade off!   Having recently become self-employed, funding my own stock and other costs I am relieved at this stage not to have to concern myself with the cost of staff in the business; I will be delighted to deal with that problem but not quite yet!   There is not a retailer in the land that isn't having to make savings and therefore compromises in order to keep the costs commensurate with profitability.   So where do you save the money?   The default position many times is the lowering of the wage bill by reducing hours or letting people go altogether. I have been thinking about whether that would be my initial reaction, with no judgement on those who do,  I believe I would try to find other ways.   Customers like to engage with people. Well trained staff who generate enthusiasm and genuine interest in celebrating the stores they work in will bring in more business.   The successful formula as I have stated in previous posts is to 'fill the shelves with what the people want to buy'; a simple mantra but the core of being a merchant. But if you don't have the people, you simply won't be as successful even with everything else in place.   Lowering the wage costs will save money but is the detrimental impact on sales really worth the risk?   There are many ways costs can be cut but the single effective means to stabilise if not grow your business is to increase sales and you will need staff backed up with all the fundamentals to make that happen.   Easy for me to say as I don't have a wage bill yet, but I am certain in my own mind that compromises made on customer service (which requires people), cutting the wage bill would not be my first response.   If there is nobody to engage with, surely customers could just continue to shop online?   All thoughts from those with payroll to consider welcome! #juliedachey #giftswithpresence #clareturner #thegiftwareassociation #retail100

I'm interested to hear how businesses are intending to deal with the forthcoming 9.8% increase to the National Living Wage. On the face of it my business isn't as affected as some because not many of our roles are at the low end of skills and pay scales. But the truth is our pay structure has been developed over years, in fact decades, with the intention of rewarding the more able team members, by encouraging them to learn more skills, become better trained, and be able to move up the ladder, make a bigger contribution to the business and be rewarded to a higher level as a consequence. The change at the bottom of 9.8% to the new hourly rate of £11.44 is a big jump. I know inflation has been up there during the year, and we all have felt the squeeze on our pay packets. My question is, when we are having to pay the lowest team members that extra almost 10% should we also be increasing the pay of those who have moved on from the bottom rate by a similar amount? To not do so could erode the reasons that they worked hard and progressed in the first place. People running businesses also know that it isn’t as easy as just putting our customer prices up to recoup the additional staff pay, so the immediate effect is a lowering of company profits, which will hit the treasury as we stop paying so much corporation tax. Ultimately what we all need to do is what we are striving for anyway; improve our productivity. That way we can pay the team extra, without hitting our profits. And to do this we need to invest in new processes, automation, improved quality, and improve further the skills we have in the business. What do others think on this thorny issue? #ukmanufacturing #productivity #nlw

Our Pay Settlement Report 2024 has been published! #remuneration #salary #salaries #increase #pay #HR #salaryincrease #socialhousing #survey #negotiations #increase

I am happy to say our Pay Settlement Report 2024 has been published! Are you interested to see the increase in salaries other organisations are proposing this year? The data is analysed by Turnover, Units in Management and Location. To order a copy of the report, please contact me directly at dorota.wisniewska@TBP2.com #salaryincrease #socialhousing #survey #negotiations #pay #increase #salary 

Are you budgeting and planning for the next financial year? Unsure where your Contact Centre function stands in terms of salary? Join us for our Contact Centre Best Practice Report Presentation in #Adelaide, #Melbourne, #Sydney, or #Brisbane! Over the past few years, our report has consistently shown salary increases Australia wide. Do you think the trend will continue this year? Share your best guess below! #ContactCentre #SalaryReport #BusinessPlanning #BestPractices #SMAART

You get what you pay for AND everyone can tell when your haircut was free How would you feel if you had to negotiate prices with the gas station or the grocery store? It doesn't matter because you either pay their prices, steal, or get out Here's what I've seen A single Warehouse Occupied by 2 tenants Tenant A pays $12 bucks an hour Tenant B pays $19.50 bucks an hour Where do you think most applicants will go? Forget them. Where would YOU apply? Transparency about wage progression You get fixed raises based on tenure with a cap Want more? Level-up to the next position for more pay This can be custom fit for your operation Backed by well written job descriptions and standard operating procedures What it's like to work with you Should be crystal clear You can do fixed percentage raises Or fixed numerical raises Numerical is cleaner Keep It Simple Seriously Getting Warehouses MORE thruput using the SAME hours. I offer a complimentary 30-minute discussion to walk through what that looks like for you. #strategy #business #creativity #innovation #xpandurangeamotion

You get what you pay for AND everyone can tell when your haircut was free How would you feel if you had to negotiate prices with the gas station or the grocery store? It doesn't matter because you either pay their prices, steal, or get out Here's what I've seen A single Warehouse Occupied by 2 tenants Tenant A pays $12 bucks an hour Tenant B pays $19.50 bucks an hour Where do you think most applicants will go? Forget them. Where would YOU apply? Transparency about wage progression You get fixed raises based on tenure with a cap Want more? Level-up to the next position for more pay This can be custom fit for your operation Backed by well written job descriptions and standard operating procedures What it's like to work with you Should be crystal clear You can do fixed percentage raises Or fixed numerical raises Numerical is cleaner Keep It Simple Seriously Getting Warehouses MORE thruput using the SAME hours. I offer a complimentary 30-minute discussion to walk through what that looks like for you. #strategy #business #creativity #innovation #xpandurangeamotion