PwC in Bermuda is launching its 14th annual compensation survey of the Island’s international business sector. And one of the trends it’s expected to show is that employers are becoming much more creative in the salary, bonuses, rewards and benefits packages they offer to attract top talent.PwC says its confidential survey “provides an invaluable tool for Bermuda companies to determine remuneration strategies for executives and employees”.“The survey gathers data from local and international companies based in Bermuda, providing a benchmark of compensation strategies specific to the Island,” a PwC Bermuda statement said. “Last year, the survey analysed over 140 positions at 50 companies.”It is open to all organisations.“Now more than ever, businesses in Bermuda must respond to changing market demands in order to be competitive, and a significant success factor is retaining the right talent,” said Alistair McNeish, managing director of PwC’s Human Capital Consulting group. “In this challenging economic climate, it is essential that businesses have people with the experience, capabilities and skills — and that means getting the right people in the door and keeping them through effective compensation strategies.”He continued: “Demand for top talent, in Bermuda and globally, remains constant even in an uncertain economy. If previous trends continue, we are likely to see employers becoming even more creative with their compensation strategies in terms of long-term incentive programmes and perquisites. For these reasons, the survey is an invaluable tool to help organisations set compensation strategy.”Some of those strategies may include such non-monetary benefits as flexi-working, working from home, increased vacation for time spent /performance, and health and lifestyle benefits.On the remuneration side, PwC said over the past couple of years there’s been more focus on linking variable pay to performance and greater quantification and assessment of risk — taking and its link to reward.The 2011 survey results showed an overall downward trend in average remuneration for the second year running in terms of both total cash compensation and total direct compensation.It cited a number of possible explanations including replacement hiring at a lower salary and cutting staff expenses.Strategic restructuring with roles “onshored” has also contributed to the decline, as well as softer negotiating tactics by new and existing employees who recognise a more competitive job market.Four survey reports are generated, including a general report, industry-specific findings, a report for insurance and reinsurance companies of fewer than 100 people, and a benefits component. The reports also include results for a range of roles, from executives to corporate controllers and legal secretaries.Results will be published later this summer, PwC said.For more information regarding the Survey or to participate, please contact: Johanna Elder at 441 298 9703 or Johanna.elder@bm.pwc.com, and Alistair McNeish at 441 298 9708 or Alistair.s.mcneish@bm.pwc.com.