4th November 2012, 12:48 PM
Quote:The RO scheme is an excellent system for maintaining professional standards in the broadest sense. Increasing pay minima is likely to endanger the scheme. The withdrawal of significant and influential ROs from the scheme is one probable short-term consequence of an increase in the recommended salary minima. In addition there may be pressure on individual employees within ROs (or former ROs) to leave the IfA, as their individual acceptance of the Code of Conduct would be incompatible with the adjusted wages policy for these firms.says Paul Belford in his post.
http://paulbelford.blogspot.co.uk/2012/1...d-ifa.html
I can't disagree more. as it suggests that companies currently do not see a correlation between fair pay and standards. If companies decide to leave a SCheme that promotes professional standards because they feel that a decent wage is unacceptable... then what does that say? WE are ( please tell me we are ) all in agreement that the wages are artificially and often ludicrously low. So to have a stance that suggests we can be cheap professionals is simply baffling.
As BAJR... I do some very complicated maths looking at company sizes, predicted turnovers, staff costs and additional costs. I then plug that through a series of percentile permutations to arrive at something which is in the realms of possible and also a step forward as opposed to a step back. This then gets sent out for comment... to every company that advertises on BAJR - to have their say. IT is also published here and on the Facebook page. According to some early calculations. a company with a yearly wages bill of circa 200-250k per year ( a medium sized company of 10-12 people) would need to find an extra ... wait for it! ?3500 - 4500 per year to meet a 1.7% rise. Given that a rule of thumb on turnover to salary ratio is circa 32% - 40% ( according to some statistics and available sources that I can view lets make it top whack for simplicity - 40%) then this means a company such as this would have to turnover circa ?500,000-?625,000 per year Gross to cope with a wages bill of 200-250k per year this in turn means in that 500-625k turnover... they have to find ... up to 5000 extra a year. Hmmmm copable with?
I think so. and if not... then think about why not. ??