HR management makes strides in India, Japan
Performance pay, which used to be a practise in US and Europe, is making rapid strides in Asia and Latin America.Updated: Feb 13, 2006 12:02 IST
Human resource (HR) management is gaining in importance in Taiwan, Japan and India, but fares poorly in Singapore in wage stakes, a survey said on Monday.
As a percentage of the pay of their chief executives, top HR executives' compensation packages in the city-state are among the lowest in the world, at 22.3 per cent, against a median of 38.4 per cent in 26 locations surveyed by Towers Perrin.
In Taiwan, Japan, India, Australia, Argentina, Spain, Belgium and Venezuela, senior HR executives in companies with annual sales of at least $500 million command compensation packages that are nearly half that of their chief executive officers (CEOs), said the US-based HR services firm.
The share is highest in Taiwan, at 63.2 per cent, said the data published in The Business Time.
"Performance pay, which used to be primarily a practise of companies in North America and Europe, is making rapid strides in Asia and Latin America" the firm said.
Japan trailed Taiwan with compensation packages that are 51.3 per cent of their chief executives. In India, they are 50.3 per cent.
Australia emerged in 10th place at 41.5 per cent, followed by Hong Kong at 41.2 per cent and Shanghai at 40.4 per cent.
Singapore was one of three countries where the ratio of HR executives' pay to CEO pay falls below 30 per cent.
The others are the United States at 24.3 per cent and Canada at 28.7 per cent.
First Published: Feb 13, 2006 12:02 IST