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Risk. Reinsurance. Human Resources.
Aon HewittTalent, Rewards & Performance
Property IndustryRemuneration Report (Australia)Information pack 2016
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Property Industry Remuneration Report 2016This report provides organisations with accurate, reliable and comprehensive remuneration data unique to the property industry.
Comprehensive remuneration and benefit tables are published for 179 positions with results based on the salaries and benefits information of 8,899 employees from 29 organisations.
Participants in the November 2016 remuneration report included:
AMP Services
CBRE Pty Ltd
Charter Hall Holdings
Dexus Property Group
Knight Frank
Lend Lease Management Services
Vicinity Centres
This report is produced on a biannual basis in May and November.
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Why participate in an Aon Hewitt remuneration report?
As an Aon Hewitt remuneration report participant you have access to the very latest market data to ensure informed salary decisions within your organisation.
Along with Aon Hewitt’s high level of client service, your remuneration report participation includes:
� Online remuneration data through Data Centre that can be filtered according to your needs. With enhanced data visualisation, individual report dashboards and real-time polling and updates, Aon Hewitt’s Data Centre is at the forefront of online remuneration analytics.
� Comprehensive coverage with data on all major elements of the remuneration package; salary, benefits and both short and long-term incentives.
� Historical coverage of actual salary movements, as well as forecasts for the coming year.
� Online access to remuneration reports from the past five years.
� Career level data that provides separate remuneration tables for each job family, which can be used to enhance job matching, or as an alternative source of data for non-standard positions.
� Attendance at remuneration forums, complimentary events that provide a chance to discuss and critically evaluate data findings and market trends and network with industry peers.
� Easy access to relevant economic indicators via Data Centre.
� Invitation to participate in the annual Policy and Practice Report that provides access to quantitative and qualitative information which supports the review and design of total reward programs.
From year to year we see many variations in the way organisations reward their employees. Some positions begin attracting a significantly higher rate of pay whilst others drop, as supply and demand for various skill-sets shift and change. As circumstances change organisations adjust their reward packages to get the most out of limited salary budgets.
Aon Hewitt is calling for subscriptions to join the
leading remuneration report for organisations
in the property industry
179positions from
29 organisations
Data in this report covers
Staying informed of market movements is critical to ensure your reward strategies are meeting your business needs whilst minimising costs.
The money spent on a remuneration report subscription can be made back many times over in savings through optimising total reward spend and retaining key talent.
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Job families surveyed
Job family: Executive
Job family: Human Resources
Functional Lead Level
Manager Level
Senior Consultant Level
Consultant Level
Associate Level
Job family: Corporate Services
Job family: Legal & Finance
Job family: Administration
Job family: Sales and Marketing
Job family: Operations & Facilities
Job family: Design
Job family: Sustainability
Management
Job family: Property Development
Job family: Leasing & Tenancy
Tenancy
Leasing
Job family: Valuation & Acquisitions
Job family: Consulting & Advice
Job family: Investment
Job family: Construction
Job family: Shopping Centre
Management
Job family: Retirement Living
Single Data Capture
Submit your data once per year, at a time that suits you.
At Aon Hewitt, we know submitting remuneration data takes time, especially if you participate in multiple remuneration reports. So to make things easier, we utilise a single data capture document regardless of the survey you subscribe to. We also allow you to elect the time of year to complete your submission*.
� One data submission per year – saving you time
� Flexible data submission dates – select the timeframe that suits you
� Position matching matrices – to make job matching easier.
* As most Aon Hewitt reports are participant only, data submission may be required pre-survey release to begin your first subscription.
Data submission The provision on your organisation’s remuneration data is a condition of participation in Aon Hewitt remuneration reports. This ensures the veracity of the data provided in the remuneration report. Our customised data input software Rapid Rem makes submitting remuneration data a simple process.
Aon Hewitt also provides participants the support of a dedicated remuneration analyst, who can assist with submitting your data and interpreting the report results.
For detailed descriptions of all positions surveyed, and participating organisations please visit our website: (aonhewitt.com.au/Home/Resources/Reports-and-research/Australian-Property-Industry-Rem-Report)
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Sample position description Remuneration data
State No. of Inc’s No. of Org’sNew South Wales 46 9Victoria 25 6Queensland 20 11Western Australia 9 6South Australia 10 8Australian Capital Territory 0 0Tasmania 0 0Northern Territory 0 0
Category* No. of Inc’s No. of Org’sOffice space 5 3Residential 39 6Industrial 0 0Retail in commercial block 28 4Shopping centre/mall 28 7Multiple 16 4
* Not all organisations provided category data
Please refer to Data Centre for statistics on the following:
Position title Senior Property Development Manager Position code Aon.PDV.90401.5 Career level 5
Responsible for Driving new development opportunities to the market by leading and managing people across all activities associated with property development
Reports to Director of Property Development
Supervises Property Development Team, Leasing Managers, Project Managers
Main activities � Initiating, managing and completing property development projects in accordance with organisations strategies � Negotiating with all appropriate stakeholders to ensure project achieve necessary approvals � Ensuring the organisation is offered opportunities to present proposals for potential development projects and effectively
market proposals for leasing and investment � Acting as the organisations representative for all building contracts, negotiating contracts and settling disputes in
accordance with organisation requirements � Developing and implementing appropriate property management policies, systems and processes � Preparing detailed project strategies and plans for development projects and undertake detailed feasibility and financial
analysis of prospective projects, project tracking and evaluation � Working with the sales and marketing team to formulate strategies to achieve sales targets � Leading and managing the property development, leasing department and project management teams � Selecting and managing projects teams of consultant and contractors � Assisting with the development of business plans
Key skills � Excellent communication skills � Good negotiation and decision making skills � Ability to manage a team � Computer skills � Excellent time management skills
Internal contacts Development managers, leasing team, centre management, sales, marketing and finance department
External contacts Builders, contractors consultants. Real estate agents, authorities, clients and suppliers
Typical experience A minimum of 10 years experience in the property industry, 5 years of which was spent in a property development role Will also possess relevant tertiary qualifications in either Property development or business related degree
Other comments
Position title Senior Property Development Manager Position code Aon.PDV.90401.5 No. of incumbents 102Career level 5 No. of organisations 11
Percentiles
Remuneration Component % Rec Average % of FR 25th 50th 75th
Taxable Base Salary (TBS) 100% 211,220 90% 181,538 210,120 216,120
Nominal Base Salary (NBS) 100% 211,501 90% 181,538 210,120 216,120
Company superannuation 100% 16,208 6% 18,614 21,007 15,721
Annual leave loading 13%
Car allowance
Company car/novated lease
Health insurance 3%
Other benefits /other cash
Total Benefits 100% 22,512 10% 17,110 18,307 22,313
Fixed Remuneration (FR) 100% 252,026 100% 200,040 220,640 261,510
Target incentive 80% 51,428 20% 22,301 41,050 61,120
Target commission
Target Short-term Incentive 84% 55,458 23% 31,300 42,000 66,150
Target Annual Remuneration (TAR) 100% 279,501 120% 231,000 272,000 315,576
Long-term incentive 16%
Target Total Remuneration (TTR) 100% 274,401 121% 215,730 274,355 341,402
Additional Payments
Overtime
On-call/standby allowance
Shift allowance
Total Employment Cost 100% 286,507 117% 225,040 271,000 321,546
Actual Remuneration – for comparison
Actual incentive 88% 54,213 21% 34,532 44,814 67,742
Actual commission 3%
Actual ad-hoc bonus 92% 1,560 3% 500 1,025 2,551
Actual Variable Pay 81% 55,163 21% 34,102 37,041 66,010
Actual Annual Remuneration (AAR) 100% 273,132 118% 219,106 274,659 317,511
SAM
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About Aon Hewitt’s Reward practice
Aon Hewitt provides expert advice and innovative solutions to assist organisations with all areas of remuneration management. With a reputation for excellence and integrity, we are the primary source of remuneration information and advice for entire industries, as well as individual organisations of all sizes.
Our clientsOver eight hundred organisations throughout Australasia and across various industry sectors use Aon Hewitt’s products and services, ranging from small to large local firms through to the largest multinationals.
Our peopleAon Hewitt is a team of knowledgeable, experienced, passionate, creative and energetic people who thrive on exceeding client expectations, providing expert advice to organisations, and leading the market in the design and development of innovative remuneration solutions, products, training and technology.
Our technologyThe Aon Hewitt Data Centre is an innovative, intuitive platform allowing you to access exactly the data you need quickly and easily, on your PC or mobile device. Data Centre provides remuneration report data visualisation, individual dashboards, position description matrix views and real-time polling and updates.
In addition, functionality includes:
Advanced filtering: enables you to filter data by multiple options including organisation size (headcount/turnover), industry and/or geography.
Peer cut: enables you to filter data by a select group of report participants to ensure alignment in a competitive talent market.
Compa-ratio reports: enables you to review how your employees compare to market data.
Age data: enables you to age the data to ensure you are future proofing projected remuneration movement in the near future.
Create custom position(s): enables you to combine multiple roles where there is no current market data for hybrid/mixed positions.
We pride ourselves on outstanding customer service and our ability to tailor solutions that are aligned to your remuneration needs and contribute to the success of your business.
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Contacts
For further information regarding this remuneration report, please contact Yong Gim directly: t +61 2 9253 7830 e [email protected]
SydneyLevel 33, Aon Tower201 Kent StreetSydney NSW 2000t +61 2 9253 7100f +61 2 9253 7006
MelbourneLevel 51, 80 Collins StreetMelbourne Vic 3000t +61 3 9211 3000f +61 3 9211 3511
BrisbaneLevel 2, 175 Eagle StreetBrisbane Qld 4000t +61 7 3223 7400f +61 7 3223 7545
PerthLevel 7, 28 The EsplanadePerth WA 6000t +61 8 6317 4000f +61 8 9322 6890
Part of Aon plc, Aon Hewitt is the global leader in human
resource consulting and outsourcing solutions. Our
services focus on helping organisations mitigate risk in
their workforce and realise the untapped potential of
their employees. We also help individuals maximise their
wealth to enable people to live the life they want.
In Australia, our team of experts partner with your
organisation to develop and deliver people strategies
that achieve positive business outcomes in the areas of:
superannuation and retirement; financial advice; workers’
compensation; work, health and safety; workforce risk
solutions; employee benefits; talent, leadership and
employee engagement; remuneration and incentives; total
rewards; actuarial services; and mergers and acquisitions.
With more than 30,000 professionals in 90
countries, Aon Hewitt makes the world a better
place to work for clients and their employees.
Aon Hewitt is the global talent, retirement and health
solutions business of Aon plc. For more information
on Aon Hewitt, please visit aonhewitt.com.au.
About Aon Hewitt
Our servicesRemuneration consulting services
� Remuneration and benefits strategy design
� Remuneration structures/systems
� Policy development and review
� Job analysis
� Position description writing
� Remuneration benchmarking
� Customised market surveys
� Job pricing
� Performance pay plan design and review
� Salary budget planning and reviewing the remuneration environment
� Salary review assistance
� Remuneration outsourcing
� Employee opinion surveys
� Remuneration mentoring
Executive remuneration services
� Executive benchmarking
� Long and short term incentive design
� Providing remuneration advice and recommendations to Boards of Directors
Survey services
� Industry-specific and general industry salaries and benefits surveys
� Customised salary surveys tailored to individual organisations’ needs
� HR benchmarking and remuneration policy and practice survey reports
� Access to international market data
� Survey forums
Training services
� Public training seminars ranging from a basic introduction to remuneration through to advanced remuneration theory and practice topics
� Customised ‘in-house’ remuneration training, designed to meet specific organisational requirements and conducted on client premises
� Access to comprehensive HR reference manuals
For further information regarding the Property Industry Remuneration Report, or to participate, please contact:
Yong Gim t +61 2 9253 7830 e [email protected]
About Aon Aon plc (NYSE:AON) is a leading global provider of risk management, insurance brokerage and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 72,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative risk and people solutions. For further information on our capabilities and to learn how we empower results for clients, please visit aon.mediaroom.com.
© 2016 Aon Hewitt Limited
Terms and conditionsPlease note: Aon Hewitt is still trading as Hewitt Associates in Australia. Hewitt Associates’ reports of salary and benefits are produced and issued under the following conditions.
Confidential and copyrightHewitt Associates Remuneration Reports are confidential and copyright. Contributors may only use the reports within their own organisations and are not to convey the contents to any third parties. Contributors may not photocopy or reproduce by any other method, the contents of the reports – extra copies may be purchased at nominal extra copy cost rates. Hewitt Associates’ Remuneration Reports are contributor only reports. Contributors are required to supply accurate salaries and benefits data by the due dates which are outlined in our annual planners.
Disclaimer/limitation of liabilityThis Remuneration Report is designed to provide a summary of pay rates as at the date of publication. The report does not purport to be conclusive or to provide specific guidelines. No responsibility can be accepted by Hewitt Associates for loss occasioned to any person acting or refraining from acting as a result of any statement in this publication. This Remuneration Report has been produced using contributors’ data that, to the best of Hewitt Associates’ knowledge, was current and correct at the time of publication. Whilst considerable lengths have been taken to verify all contributors’ data, Hewitt Associates gives no guarantee as to the accuracy or validity of the information contained herein, nor its applicability to any specific circumstances. The Remuneration Report is intended as a guide only and Hewitt Associates will not be liable to any person for any claim or loss as a result of any actual or perceived inaccuracy contained in the report.
Hewitt Associates privacy policyHewitt Associates has had a long–standing commitment to respecting the privacy of the information entrusted to it by clients and others. This commitment has ensured the ongoing success of our business and our clients’ ongoing support of our products and services. Our formal Privacy Policy document explains Hewitt Associates’ commitment to comply with the Privacy Act 1988 (Cth) and how we collect, use, disclose and protect the information we collect from our clients. To view this policy document, please go to our website aonhewitt.com.au for further information. A0283_1126R C1 0716
aonhewitt.com.au
Risk. Reinsurance. Human Resources.