Keep it simple – benchmark the salary
In line with our company slogan “The right ones for your success”, our aim is to provide the right personnel solutions and services in our local market, and this also includes accurate total rewards data for management positions.
Our first benchmarking project was implemented soon after opening of our Serbian branch, in Q1 2023, while second has been in Q1 2024. The data includes details related to salaries, managerial bonus, all represented benefits and salaries increase YoY.
Our benchmark projects are focused solely on the industrial segment, i.e. production industry in Serbia. The positions covered are typical factory positions, including technical and non-technical positions.
Industrial segment has been strongly developing over the past years in Serbia and some industries are really fast-growing. Consequently, it is no longer so easy to find certain profiles and, from the perspective of hiring need, competitors are all factories in the geographical area accessible for daily commuting. Clearly, non-technical roles are not industry-related per se, but over time, more people from certain technical leading roles are switching from one industry to another.
Thus, our benchmarking frame perspective is related to a combination of relevant factors: geographic area, size of a local business and industry.
Distinction between financial expectations and existing salaries
We mustn’t equate candidates’ expectations with actual market situation. In fast growing industries, market compensations and expectations grow, but the growth is usually not equal. Understanding of compensation expected for a job change is useful, and even more important is understanding of expected vs. current.
Based on compensation data collected in our benchmark projects, provided by official representatives on behalf of participating companies, we can provide accurate and reliable market data. Per request, this might be extended with details regarding typical expectations for the position, based on our insights from executive search projects.
Ethical approach to sensitive data
The data in our database are strictly confidential and we are not disclosing any individual data. The data serves as a basis for creation of custom-made reports for interested parties. On the basis of interested party`s business, we can create a relevant sample from our database, apply statistical methods and create custom-made reports. Usage of different criteria (geographic location, type and size of business, etc.), as well as final reports, is custom-made.
In our benchmark database, there is more than 270 management roles with associated salaries, bonuses and benefit packages. Different production industries and companies` size are included. We have data for small companies, employing less than 100 people, across mid-sized segment and German Mittelstand, to large multinational corporations.
Explore the details
A total reward report for a position contains annual gross salary, percentage of maximal annual bonus, applicable benefits and details regarding the salary increase comparing to last year.
Salary data are presented through 25th percentile, 50th percentile, 75th percentile and the mean.
A benefit report shows representation among following options: pool car, company car 24/7 with(out) limited fuel, private health insurance for the manager and/or for the manager and the family, private pension insurance, catering, housing costs, shares, hybrid work, flexible working hours.
We have separate data for regions: Belgrade and surrounding, area north from Belgrade (Vojvodina) and area south from Belgrade (Šumadija, Western, Southern and Eastern Serbia).
Compensations won`t be the same in small, mid-sized or large companies. We have data based on annual turnover in Serbia and local number of employees.
Agriculture and feed; Automotive suppliers – tier 1, 2, 3; Building materials manufacturing; Chemical, medical, pharmaceutical manufacturing; FMCG; Furniture; Luxury goods; Machinery manufacturing and mechanical, electrical, electronics equipment manufacturing; Metallurgy and metal processing; Oil and gas, mining, energy; Packaging manufacturing; Plastic and/or rubber processing; Textile manufacturing
Managing Director, Plant Manager, Technical Plant Manager, Commercial Plant Manager, Operations Manager, Finance Manager, Controlling, Technical Manager, Engineering Manager, Maintenance Manager, Production Manager, Project Manager, Supply Chain Manager, Logistics Manager, Procurement Manager, Quality Manager, QHSE Manager, EHS Manager, Sales Manager, IT Manager, HR Manager
Are you looking for the right people? Then feel free to get in touch with us.
Dr. Heimeier Executive Search d.o.o.
Ziegel House, Nebojšina 36
Belgrade, Serbia
+381 11 457 51 58
office@heimeier-executive.com
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