The HR Outlook and Benchmarking Survey was officially launched on Monday, July 3, 2023, accompanied by the signing of a Memorandum of Understanding (MoU).
The event marked a significant milestone in the field of human resources in Ghana, with industry leaders expressing their optimism about the survey’s potential impact.
Dr. Ebenezer Agbettor, CEO of the Chartered Institute of Human Resource Managers, expressed his anticipation regarding the survey’s findings and highlighted its potential to address issues such as salary inequity in Ghana. He emphasized the importance of accurate and reliable industry-specific information to empower organizations in understanding prevailing salary trends and benchmarks.
“By leveraging industry-specific insights, organizations can gain a comprehensive understanding of prevailing salary trends and benchmarks within their sector,” Dr. Agbettor stated. He further emphasized that this knowledge would enable companies to evaluate and enhance their own salary systems, ensuring they remain competitive in attracting and retaining top talent.
Another prominent speaker at the event was Dr. Eric Afful-Dadzie, CEO of MData Consult Ltd, who delivered a speech underscoring the significance of the survey project and its potential impact on the HR fraternity in Ghana and beyond. He highlighted the historical importance of the Chartered Institute of Human Resource Management Act (Act 1020), signed into law three years ago, which aimed to regulate HR practices in Ghana. Dr. Afful-Dadzie emphasized that the current research exercise aligned perfectly with the objectives of Act 1020, emphasizing the importance of data-driven decision-making for HR professionals in the 21st century.
Dr. Afful-Dadzie also addressed the prevailing challenges faced by HR units, such as neglecting data-driven reporting and failing to connect their activities to bottom-line business outcomes. He stressed the need for benchmarking HR metrics against industry standards and peers to ensure meaningful reporting and contextualized analysis. Notably, he highlighted the lack of accessible HR metrics specific to Ghana, as most available data originates from North America or Europe. To bridge this gap, the HR Outlook and Benchmarking Survey is a collaborative effort among multiple organizations, aiming to establish a comprehensive and standardized set of metrics.
Dr. Afful-Dadzie emphasized the crucial role of organizations’ participation in ensuring the accuracy and reliability of benchmarking data. He encouraged all attendees to contribute to this collective effort, which would advance the field of HR in Ghana.
Yen Sapark, the Survey Project Coordinator, reassured participants of strict confidentiality and anonymity, ensuring that the data provided would not be linked to any specific organization. The survey aims to uncover trends and emerging practices in HR, providing guidance for informed decision-making and the development of effective HR strategies. It covers a wide range of HR metrics, including demographics, HR efficiency, recruitment, business outcomes, and more, offering a comprehensive analysis of the HR landscape in Ghana. CIHRM is partnered by accounting firm, KPMG, MData and HR Network.
Source: Citi Business News