Companies urged to review salary schemes

The Chief Human Resource Officer of AT Ghana, formerly known as Airtel Tigo, Eric Adadevoh, has urged companies to embark on a proper review of various salary schemes due to the hike in inflation in recent times.

He explained that the current inflation had affected all operations of organisations and as a result, organisations needed to be opened to employees and engage them on several issues concerning salary reviews.

He was speaking at the 2023 Annual General Meeting (AGM) of the Chartered Institute of Human Resource Management Ghana (CIHRM), held in Accra last Friday.

Communication

Mr Adadevoh also urged employers to engage in more transparent communication with regard to the operations of their respective companies as their strategies to manage the expectations of employees in the current economic difficulties.

He suggested that companies held quarterly Town Hall meetings with management and leadership of the business to talk to employees about performance, targets, bottom line figures and production guidelines.

Mr Adadevoh also suggested focus groups meetings with Chief executive officers and Managing directors of the business on breakfast meetings to share information about the business.

Report

The President of CIHRM Ghana, Dr Edward Kwapong, said the institute managed to increase its membership in all the categories during the year under review.

He said from 2021 to 2022, Chartered members increased from 115 to 255, indicating an increase of 122 per cent; full membership increased from 1,845 to 2,887 , an increase of 56 per cent.

“Associate members saw an increase by 56 per cent, affiliate members increased by 24 per cent while Corporate members increased by 21 per cent.

Fellow members were 40 in 2021 and remain same in 2022.”

Dr Kwapong said total income increased from GH¢1,673,610.65 in 2020 to GH¢2,917,877.56 in 2022, indicating an increase of 74 per cent.

He also said that total expenditure of the institute for the same period also increased from GH¢1,585,083.03 in 2021 to GH¢2,605,988.65, indicating an increase by 64 per cent.

“The Institute recorded a net surplus of GH¢311,888.94 in 2021 as against 2020 net surplus of GH¢88,733.49, an increase of GH¢223,361.32, representing a 252 per cent increase in net surplus,” he added. 

Legislative Instrument

Briefing members on the Legislative Instrument (LI) Status for the institute, the CIHRM President said the Institute continued to engage the government through the Ministry of Education (MOE) and Attorney General’s office and the Subsidiary Legislation Committee of Parliament.

Mr Kwapong, therefore, urged members of the institute to shine everywhere they work and hold the image of the Institute very high.

Responsibility

In his welcome address, the Chief Executive Officer of CIHRM Ghana, Dr Ebenezer Agbettor, said CIHRM Ghana Council would normally come to AGM to seek approval for numbers that could be conferred.

However, since the CIHRM Ghana 2020 (Act 1020), the institute, he said, had assumed full responsibility of its management and held the duty to take every decision concerning fellows.

“Subsequently, there should be no limit as to the number of members that we confer fellows on a yearly basis as long as they meet the criteria,” Dr Agbettor added.