Bank of Bermuda has started publishing market-based total compensation packages in recruitment advertisements in a bid to be transparent and attract people in a competitive labour market.

Since June the bank, the Island?s largest private employer, has been running a series of job advertisements in the for a variety of positions which have raised a few eyebrows in the community.

These jobs included: reconcilations officer (circa $60,000), tax compliance officer (circa $110,000), credit analysis (circa $60,000), client account manager (circa $100,000), executive secretary (circa $80,000), senior secretary (circa $70,000) and administrative secretary ($60,000), security guard (circa $60,000).

All the above jobs advertised included the salary plus mortgage benefit. The Bank of Bermuda refused to comment on what exactly the total compensation package consists of or whether any additional fees are attached to the mortgage benefit.

While other small to medium companies may face challenges of recruitment and retention, a large employer like the Bank of Bermuda in partnership with global player HSBC can offer employees a wide range of attractive benefits.

Bank of Bermuda Head of Human Resources Stuart McLeod said: ?Bank of Bermuda advertises market-based total compensation packages in recruitment advertisements in order to be transparent and attract people in a competitive labour market. The total compensation package forms a part of our overall employee proposition, which aims to position the bank as the Island?s employer of choice. The bank conducts market reviews periodically and looks to position salaries and total compensation appropriate to the market. Bank of Bermuda began publishing market based total compensation packages earlier this year and it is a local recruitment strategy.?

Whether the benefits packages for the above positions such as executive secretary, are in line with market expectations, the Island?s local employment and recruitment agencies agree that working as an executive secretary is highly demanding and requires a high level of skill sets.

Maryanne Scott of SOS Limited said: ?There are Bermudians that are working for top executives making a salary of $80,000 a year and the Bank of Bermuda recruitment ads provide a good description of this role.?

Colum Lovett of bermudaREcruit Limited/The James Partnership said: ?Bank of Bermuda?s advertisement for an executive secretary circa $80,000 plus mortgage benefit does not appear to be purely a base salary but reflects an overall package i.e. base plus bonus etc.?

?From our experience an executive secretary with this skill set being offered this package is not out of line in today?s competitive marketplace although most companies do not publish benefit packages in their recruitment advertisements.?

Martin Law, executive director of the Bermuda Employers? Council said: ?There is an assumption that large companies pay bigger salaries but we are dealing with market forces.

?It is a competitive marketplace and employers have to look for ways for employees to join their organisations.?

Mr. McLeod said: ?Bank of Bermuda takes seriously its commitment to its employees to make the bank a great place to work and provide opportunities for career growth.

?Earlier this year we opened a state-of-the-art learning and development training facility, The Insight Learning Centre, to enable our staff to acquire new skills and knowledge and a number of staff have benefited from secondment opportunities with HSBC offices around the world.

?Bank of Bermuda is the Island?s largest private employer and we expect our business to grow, creating even more opportunities for employment.?