your T


Articulating


worth in the


Boardroom


he SSR & Executive Profiles annual salary surveys partner with ASIS International. We undertake to review more than 12,000 security professionals – data is gathered from a number of sectors including the finance industry, manufacturing, extractives, FMCG and logistics. SSR separately monitor salary data from the service and public sectors and this is available from their bespoke salary data consultancy.


The Bank of England predicted that 2017 wages inflation in the UK would average 3.5%, including bonuses, against Retail Price Index inflation 2.5%. By mid-2017 there is higher than predicted RPI inflation above 3.5% (mainly due to currency fluctuation), and wage growth has been revised down to 2.3%. With firms feeling they cannot fully pass on costs, many are opting to manage increasing wage costs by not recruiting key roles and increasing management productivity through managing more head count. The BoE believes that unemployment can fall further than previously thought before wage inflation starts to accelerate. The fiscal prudence by many analysts has always been that with an unemployment rate of 4.5% (1.5m people unemployed), salaries and interest rates would, as in previous cycles, have to rise. This is not happening, and financial analysts now consider a 3% unemployment rate before we experience employment inflation or BoE hikes the 0.25% base rate.


With 40 years of access to relatively cheap EU labour entering the UK as countries acceded to the EU, job migrants from Bulgaria, Romania and Hungary are not providing the numbers of applicants required with higher technical skills.


With skills training for years not being a priority of successive UK governments, and the possible restriction in migrant numbers, businesses face labour shortages for the next five years. The opening of UK borders to higher skills from non-EU labour markets is essential.


In the UK, private sector employers were, in 2016, paying, on average salary, increases of


26 © CITY SECURITY MAGAZINE – AUTUMN 2017 www.citysecuritymagazine.com


2.5%, against an EU average of 1.7%. Management salary increases (outside personal performance increases) averaged 3.4% in the UK.


According to the latest OECD report, real earnings in the UK have fallen by 10% since 2008, a worse decline than any other advanced country apart from Greece. Real wages – income from work adjusted for inflation in the past 10 years – grew by 23% in Poland, 13.9% in Germany and 6.4% in the USA.


For those in Enterprise Risk, the biggest skills gaps are in cyber resilience and technology applications, resulting in a candidate-driven market. Employers are reviving signing-on bonuses, averaging around £10,000, even at wage levels of £40,000. Workers are so confident in their worth that they are telling bosses that they are going on an interview and receiving a counter offer before their first interview!


Convergence – is it a matter of cost saving or skills enhancement? No boardroom


UK SA


£251 - 282k 220 - 246k 195 - 215k


k k k


169 - 190k* 143 - 164k*


k* k*


0% 10% 20% 0% 10% 20% 30% 40% 50%


CHIEF SECURITY OFFICER Responsible for policy, executive board briefings. Dotted line or direct responsibility for subsidiary CSO / Head of security position. Oversight budget responsibility of £30m+. Revenues of £2bn+.


* Included in Executive Long Term Incentive Plan


£138 - 149k 113 - 133k 98 - 108k 82 - 97k 51 -77k


k


k k


k 0% 10% 20% 3 0% 10% 20% 30% 40% 50%


EUROPEAN SECURITY HEAD Regional reporting, policy implementation, promulgates corporate policy. Responsible for physical and information security. Budget responsibility £5m – £10m.


£159 - 174k 128 - 154k 102 - 123k 92 - 97k 50 - 91k*


k k k


k * 0% 10% 20% 30% 0% 10% 20% 30% 40% 50%


EMEA SECURITY HEAD Responsible for regional policy development, executive reporting, promulgating corporate policy, overview of physical and intellectual protection. Budget responsibility £10m – £30m.


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36