Have you ever wondered what your Certified Human Resources Professional Designation (CHRP) is worth when it comes to your career and your paycheque?
Plenty, according to new research from the Toronto-based Human Resources Professionals Association (HRPA) and PayScale. HRPA and PayScale conducted a national study to find out the value of the designation, and also looked at a similar designation south of the border.
The study, which pulled data from Payscale’s database, found that, for the most part, professionals with the CHRP designation outperformed professionals who didn’t have the CHRP.
“The demand for the CHRP designation from employers is clear and Payscale’s latest study only underscores how this translates into higher earnings and more promotions,” said Bill Greenhalgh, CEO of HRPA.
Let’s take a look at some of the key findings from the survey, Fuel for HR Careers: The 2013 Market Value for CHRP Certification.
Faster job progression
CHRP holders tend to get promoted faster, something that was especially true at the junior level. Nearly two-thirds (65 per cent) of HR assistants with a CHRP were promoted within five years compared to one-third (33 per cent) of those without the designation.
But at the top end of the scale, the CHRP wasn’t a differentiator. In fact, a higher percentage of HR directors without a CHRP received a promotion within five years (16 per cent) than those with the designation (14 per cent.)
Percentage receiving promotion within 5 years
CHRP holders were also more likely to be promoted than their counterparts who hold the Professional in Human Resources (PHR) certification in the United States — 51 per cent of HR generalists with a CHRP received a promotion within five years, versus 41 per cent of PHR holders.
The almighty dollar
When it comes to paycheques, a CHRP generally means a more swollen wallet. But, as with progression, it’s not a big differentiator for the top positions. Interestingly, it’s also not much of a differentiator for junior positions either.
The difference is most pronounced for HR managers, where the premium for having the CHRP is 13 per cent — $65,100 versus $73,400.
The wage difference holds true across the country. Here’s a look at the salaries for HR managers with the CHRP versus those without in selected cities across Canada.
Who has the designation?
The top HR professionals at an organization are more likely to have the CHRP, according to HRPA and Payscale.
One-half (50 per cent) of vice-presidents of HR and HR directors (51 per cent) had the designation, versus only three per cent of HR assistants.
Employers asking for CHRP?
According to HRPA, the number of job postings on Hire Authority — a job board it operates — that request the CHRP designation has been on the rise.
From 2007 to 2012, the percentage of postings that require an applicant to have, or be working towards, the CHRP jumped from 36 per cent to 68 per cent.
In the past year, that number has increased to 70 per cent, it said.
Look for more in-depth information on this survey in the Oct. 7 issue of Canadian HR Reporter.
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