September 29, 2020

Cayman Islands Chamber of Commerce announces Salary & Benefits Survey

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Screen Shot 2015-03-12 at 11.56.30 AM5th Chamber Salary and Benefits Survey is underway

The 5th Chamber of Commerce Salary and Benefits survey is underway. KRyS Global has been commissioned by the Chamber Council to conduct the survey. It is the fifth salary and benefits survey to be commissioned by the Chamber since 1997. All information remains confidential and is summarized to reflect salary and benefits trends across specific industry sectors. The survey includes more than 160 benchmark positions. All industry sectors were consulted and asked to update and add to the 150 benchmarks from the 1997 survey. Several new benchmark positions were added and updated. The survey also measures salary and benefit administrative practices including the average hours of work per week, timing of salary reviews, expected salary adjustments, factors influencing salary adjustments, new hires, training practices, financial support, scholarships, internships and work experience. Each benchmark position will be reported across all industry sectors as well as summarized in terms of average base salary, bonus levels and segmented by the lower to higher end of the salary scale. Each benchmark position will also have a detailed job summary to assist businesses with matching positions in their establishments.

“The objective in conducting the survey is to provide members and the wider business community with reliable and timely salary and benefits information for a wide spectrum of positions across all industry sectors in the Cayman Islands. This survey will be one of the largest ever conducted in the Cayman Islands to measure private sector salary and benefits practices. All businesses are urged to participate. The data will be extremely useful and will assist with determining how your business compares with others in terms of wages and benefits,” said Chamber CEO Wil Pineau, CCE.

“KRyS Global is delighted to partner with the Cayman Islands Chamber of Commerce, in their 50th year, to produce a Salary and Benefits Survey, which will provide an accurate overview of the work and benefit trends currently in existence across all of the major industry sectors on island. We believe that the survey will be a valuable resource in relation to salary and benefits practices, enabling businesses to be competitive in the marketplace and ensure that they are able to attract and retain the best individuals to contribute to the future success of their operations,” said Kenneth Krys, Executive Chairman and Founder of KRyS Global.

There is no cost of complete the survey. The survey link was distributed to the membership early this month. If you have not received it, please contact mailto:[email protected] and she will send you the link.

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