The CHRP fuels annual earnings by more than 50% in some industries and also drives more promotions than American HR certification
TORONTO, Sept. 12, 2013 /CNW/ - Today, the Human Resources Professionals Association (HRPA), together with PayScale, Inc. , the leader in cloud compensation data and software, released a report showing the correlation of the Certified Human Resources Professional (CHRP) designation with earning potential and career progression. The new report, Fuel for HR Careers, shows HR managers holding a CHRP typically have annual salaries that are 13 percent higher than colleagues without the certification.
It also validates similar findings from a CHRP study HRPA and Payscale conducted in 2012.
"These report findings are consistent with our research showing there are only a few ways to positively impact pay for white collar jobs - certifications being one of them," said Katie Bardaro, lead economist at PayScale. "The increased earning potential for the CHRP is particularly impressive, demonstrating employers are willing to pay significantly more to attract HR professionals with these credentials."
Other highlights from the Fuel for HR Careers report include:
- The CHRP correlates with more earnings for HR professionals; up to $8,300 more in median pay annually for HR managers.
- Pay in utilities; finance and insurance; and the mining, quarrying and oil and gas extraction industries was more than 50% higher with a CHRP.
- CHRPs advance to senior roles more quickly: 65% of HR assistants with the CHRP received a promotion within five years, compared to only 33% of those without.
- Across most HR titles, the CHRP seems to fuel more promotions than the American Professional in Human Resources (PHR), a designation granted by the HR Certification Institute (HRCI).
- From 2012 to 2013, job postings requiring a CHRP increased from 67% to 70%, up from just 36% in 2007, showing more employers are recognizing the value of the certification.
- The likelihood of holding HR certification increases with seniority; half of HR Vice Presidents and Directors hold the CHRP designation.
"The increasing demand for the CHRP designation from employers sends a clear message about the overall value of these credentials," said HRPA CEO Bill Greenhalgh. "PayScale's latest study underscores how the CHRP translates into higher earnings and more promotions for today's HR professionals."
To view HRPA's Fuel for HR Careers report on the value of HR certifications, visit http://www.hrpa.ca/Documents/CHRP_PayscaleReport.pdf or check out HRPA's infographic at http://www.hrpa.ca/Documents/CHRP_2013_Infographic_lg.pdf. This year's study also looks at the impact of certification in ten major metro areas across Canada. For more information about wage trends across Canada, please visit: http://resources.payscale.com/hr-ca-compensation-trends.html.
The Human Resources Professionals Association (HRPA) is Canada's HR thought leader with more than 20,000 members in 28 chapters across Ontario. It connects its membership to an unmatched range of HR information resources, events, professional development and networking opportunities and annually hosts Canada's largest HR conference. In Ontario, HRPA issues the Certified Human Resources Professional (CHRP) designation, the national standard for excellence in human resources management and the Senior Human Resources Professional (SHRP) designation, reserved for high-impact HR leaders. For more information, please visit www.hrpa.ca.
Creator of the largest database of individual compensation profiles in the world containing 40 million salary profiles, PayScale, Inc. provides an immediate and precise snapshot of current market salaries to employees and employers through its online tools and software. PayScale's products are powered by innovative search and query algorithms that dynamically acquire, analyze and aggregate compensation information for millions of individuals in real time. Publisher of the quarterly PayScale Index™, PayScale's subscription software products for employers include PayScale MarketRate™, PayScale Insight™, and PayScale Insight Expert™. Among PayScale's 2,500 North American corporate customers are organizations small and large including Canadian customers Kobo, COBS Bread and Golder Associates.
SOURCE: Human Resources Professionals Association of Ontario
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