SINGAPORE PAY DATA
COLLECTION CHANGES
FREQUENTLY ASKED QUESTIONS
General Information
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Why is Hay Group introducing the changes?
What changes will we be introducing and when will it take effect?
Why are we asking for additional information?
Can Paynet clients choose not to participate in the Hay Group
Market Updates and Paynet Database Update?
Hay Group Market Updates
• Why are we introducing Hay Group Market Updates?
• What is the Hay Group Market Updates Report?
• How would Paynet clients benefit from participating in the Hay
Group Market Updates?
• What is a Talent Q Dimensions (Traits and Narratives) Report?
• How do Paynet clients participate in the Hay Group Market
Updates?
• What are the key milestones Paynet clients should take note of?
Paynet Database Update
• What is Paynet Database Update?
• Why are we streamlining the Paynet Database Update cycle?
• How would Paynet clients benefit from participating in the Paynet
Database Update?
• How do Paynet clients participate in the Paynet Database Update?
• Why do Paynet clients need to complete two online
questionnaires?
• What are the key milestones Paynet clients should take note of?
GENERAL INFORMATION
Why is Hay Group introducing the changes?
The changes are introduced based on informal feedback and
discussions with many of you. Through those discussions, we
gathered that you would like to see:
a) More insightful data
b) How we could innovate to be an easier partner to work with
What changes will we be introducing and when will it take
effect?
With effect from 1st April 2015, Hay Group will be:
a) Introducing Hay Group Market Updates in replacement of
the May update that will be phased out. This concise online
questionnaire is designed to provide updated insights of
market movements.
b) Streamlining the Paynet Database Updates from two
updates (published in May and November) to once yearly in
November. This means that our Paynet database will only
be updated in November yearly.
c) Requesting for more manpower and remuneration
information from you to create additional market reports in
the future.
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GENERAL INFORMATION
Why are we asking for additional information?
Hearing that you would like us to deliver more insightful data
and analysis, we will gather more information from you. This
means that our online questionnaire and data pack will be
expanded to gather additional information.
Can Paynet clients choose not to participate in the Hay
Group Market Updates and Paynet Database Update?
We have signed a contractual agreement with you to provide
us with your updated remuneration and benefits information
yearly when the Paynet subscription was taken up. While
there are Paynet clients that chose not to submit their salary
information, they have agreed to pay a non-participant fee
amounting to three times our Paynet subscription fees.
2
HAY GROUP MARKET UPDATES
Why are we introducing Hay Group Market Updates?
As we are moving away from two Paynet database updates
to only once yearly, we understand that some of our Paynet
clients will be looking for market critical information to stay in
touch with market remuneration trends. The Hay Group Market
Updates is an online questionnaire designed to capture those
critical information that most of our Paynet clients will be
looking at. The results from the survey will be published in the
Hay Group Market Updates Report.
What is the Hay Group Market Updates Report?
Please refer to page 4 for more details.
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HAY GROUP MARKET UPDATES REPORT
The Hay Group Market Updates Report is a concise report that will be published by 29th of
May. The report will provide updated market movements to help organizations stay in touch
with the market remuneration trends. It will cover the following insights:
PREVIOUS YEAR vs FORECAST FOR CURRENT YEAR
• Average Salary Increment
• Salary Increment for employees and newly promoted employees
$$
• Fresh graduates pay trends pertaining to the hiring of fresh graduates,
the entry level pay package, and the actual base salary for the different
education levels
+
Business Outlook for
previous year
Trends around HR challenges
that revolves around selection,
training and development and
employee turnover
Current market challenges
/ trends faced by the labour
market
PREVIOUS YEAR
vs
FORECAST FOR CURRENT
AND NEXT YEAR
Short term incentive (bonus)
and Average Performance
Variable bonus payout
Other forms of performance
/ variable bonuses
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HAY GROUP MARKET UPDATES
How would Paynet clients benefit from participating in the
Hay Group Market Updates?
If you have submitted a complete Hay Group Market Updates
online questionnaire, your Account Manager will contact you
when the Hay Group Market Updates Report is published.
Additionally, in appreciation of your organization participation,
one individual from your organization will be entitled to a
complimentary Talent Q Dimensions (Traits and Narratives)
Report*.
What is a Talent Q Dimensions (Traits and Narratives) Report?
Developed by Roger Holdsworth, a pioneer in the field of
psychometric testing, the Talent Q Dimensions is a unique,
online, work-focused psychometric assessment for assessing
large talent pools key work-related personality attributes. The
data can be used at different points throughout the talent
lifecycle and the report will inform a range of talent decisions:
screening and selection, matching people to jobs, coaching
and development, identifying high potentials, leadership
development and team building.
How do Paynet clients participate in the Hay Group Market
Updates?
You will receive an email on the 13th of April with a link to
complete our online questionnaire by the 24th of April.
What are the key milestones Paynet clients should take note
of?
Please refer to the timeline on the following page for more
details.
*This offer is valid till 31st July 2015.
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HAY GROUP MARKET UPDATES
KEY MILESTONES
MARCH
TO BE PUBLISHED IN MAY
31st
You will receive an email notification
informing you of the changes
13th
You will receive an email notification inviting you
to complete our online questionnaire for the Hay
Group Market Updates Report
APRIL
24th
Today is the last day for you to submit
our requested online questionnaire
by
15th
PROCESSING AND
ANALYSIS OF
INFORMATION
TO PRODUCE HAY
GROUP MARKET
UPDATES REPORT
MAY
If you have submitted our requested
information, you will be contacted for
one complimentary Talent Q report
by
29th
If you have submitted our requested
information, you will receive the published
Hay Group Market Updates Report
PAYNET DATABASE UPDATE
What is Paynet Database Update?
This is Hay Group’s regular Paynet database updates that
usually takes place twice a year in May and November. However,
with effective 1st April 2015, we will be streamlining our Paynet
database update from two updates to once yearly in November.
This means that our Paynet database will only be updated in
November yearly.
Why are we streamlining the Paynet Database Update cycle?
Our observations over the years revealed that there are no
distinct difference in market movements across our two
database update cycles. To ensure that resources are focused to
deliver insightful and higher quality data, we have decided to
streamline our database updates to once yearly only.
How would Paynet clients benefit from participating in the
Paynet Database Update?
All Paynet clients will be able to gain access to critical updated
market remuneration and benefits information. Results from
the update will be published as follow:
• On Paynet by 20th November
• Market Remuneration Report by 10th December
• Benefits Report by 10th December
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PAYNET DATABASE UPDATE
How do Paynet clients participate in the Paynet Database
Update?
From 15th of May to 31st of August, your Account Manager will
be reaching out to you to complete our data collection pack and
an online questionnaire. Information and questions requested
on the data collection pack and online questionnaire will then
be processed and analysed.
Why do Paynet clients need to complete two online
questionnaires?
The questions covered in the Hay Group Market Updates
questionnaire are not the same as the Paynet Database Update
questionnaire. You would need to complete both online
questionnaire so that we can gather the right information to
produce different analysis and reports.
What are the key milestones Paynet clients should take note
of?
Please refer to the timeline on the following page for more
details.
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PAYNET DATABASE UPDATE
KEY MILESTONES
15th May to 31st Aug
YOU WILL RECEIVE AN EMAIL
NOTIFICATION TO COMPLETE OUR DATA
PACK AND ONLINE QUESTIONNAIRE FOR
THE PAYNET DATABASE UPDATE
OCT
NOV
DEC
PROCESSING AND
ANALYSIS OF
INFORMATION FOR
PAYNET DATABASE
UPDATE
SEPT
AUG
JULY
JUNE
MAY
TO BE PUBLISHED IN NOVEMBER
by
20th
You will be able to access updated
information on Paynet database
by
10th
You will be able to download the Hay
Group Market Remuneration Report
and Benefits Report from Paynet
FOR FURTHER ENQUIRIES, PLEASE CONTACT US AT
+65 6323 1668
[email protected]
OR VISIT OUR WEBSITE AT
ATRIUM.HAYGROUP.COM/SG
© 2015 Hay Group. All Rights Reserved.