Tag: Salary Surveys

Free Compensation White Papers

Posted on | by ERI

ERI is committed to providing compensation professionals with valuable online resources and educational opportunities. Be sure to check out our latest white papers (detailed below) and upcoming webinars.

Also visit our News Room for links to “ERI in the News,” press releases, and quarterly updates. Online compensation and benefits courses are available for continuing education credits through the ERI Distance Learning Center.

IRS and Nonprofits: What Happened in 2011 and What to Expect in 2012

The latest report on the activities and plans for the Ex­empt Organizations (EO) division of the Tax Exempt and Government Entities of the IRS provides some in­sight into what’s ahead for nonprofits – good to know if your nonprofit is in a group targeted for some scrutiny. ERI’s white paper, “IRS and Nonprofits: What Happened in 2011 and What to Expect in 2012,” highlights accomplishments in Fiscal Year (FY) 2011 and previews plans for FY 2012, as outlined by EO Director Lois Lerner.

Underemployment: Implications for Organizations

In addition to unprecedented and persistently high unemployment rates since 2008, employers have been cautious with staffing by hiring more part-time workers. Combined, these factors have given organizations the advantage of attracting top talent in the underutilized and involuntary part-time labor markets. ERI’s white paper, “Underemployment: Implications for Organizations,” provides an analysis of industry sectors and related job losses to examine the composition of the underemployed and details proactive approaches employers might use to sustain the benefits of these market advantages.

Introduction to Skill-Based Pay

Having gained popularity in the early 1990s, skill-based pay plans continue to play important roles as standalone or supplemental compensation systems. General information on the benefits and challenges of instituting skill-based pay, as well as insights on developing a plan, are just some of the topics covered in ERI’s free white paper, “Introduction to Skill-Based Pay.”

Perceived Fairness in Compensation

Numbers on the paycheck aside, how an employee perceives his or her compensation as fair affects your organization. ERI’s new white paper, “Perceived Fairness in Compensation,” outlines potential problems associated with perceptions of fairness within the context of compensation, examines how individuals discern fairness, and provides practical ways to help employees understand how their salaries are set.

Improved Transparency for Charity Executive Pay: A Review of Form 990 Data

Are executives at nonprofits paid reasonably? Debates over compensation in the nonprofit sector are heated and ongoing, often without reference to compensation data that are reported annually to the IRS on Forms 990 filed by most organizations. In our latest white paper, “Improved Transparency for Charity Executive Pay: A Review of Form 990 Data,” ERI addresses the questions that are relevant for the ongoing discussion of unreasonable compensation in the charitable sector.

Health Care Benefits Survey Shows Employers Struggling to Reduce Costs

Posted on | by ERI

Employers throughout the United States are continuing to implement less costly health care options because of rising medical costs. Rather than offering changes in traditional plans, many employers are moving to High Deductible Health Plans coupled with a Health Savings Account. Others are simply reducing benefit levels by increasing employee contributions, deductibles, co-payments, coinsurance, and out-of-pocket maximums.

 

The new 2012 Health Care Benefits Benchmarking Survey, released April 2, 2012, by ERI Salary Surveys, confirms the trend to shift more costs to employees. The report details data submissions from 163 employers representing more than 160,000 employees. Data are reported for 330 medical plans and 185 dental plans in the U.S., all effective January 2012. The information provides employers with a baseline of current health plan costs and practices that may be used to make informed decisions regarding benefits management.

 

Here are some highlights of the survey:

 

Provision of Medical Benefits

  • Preferred Provider Organization (PPO) plans continue to dominate the market, enrolling 59% of the covered employees in the United States.
  • Participation in High Deductible Health Plans (HDHP) combined with a Health Savings Account (HSA) has increased dramatically since 2009. For 2012, total response for such plans ranked third behind PPOs and Health Maintenance Organization (HMO) plans, respectively.
  • Enrollment in Indemnity and Point of Service (POS) plans continue to decline.

Cost of Medical Benefits through PPOs

  • Average monthly employee cost for employee-only coverage is $130.90, up 2% from last year.
  • For employers, the average monthly cost for employee-only coverage dipped 5 percent to $397.29, but still represents three-quarters of the total premium cost.

Dental/Vision Coverage

  • Dental benefits are offered by 91% of responding organizations. Within those organizations, 62% of the employees enrolled.
  • Vision benefits are offered by 85% of respondents; 67% contribute to the cost.

 

In addition to providing details on the findings listed above, the fifth annual Health Care Benefits Benchmarking Survey also reports information on the length of employment requirements for coverage, cost-management strategies (such as disease management, health promotion, and wellness programs), as well as breakouts by size and type of employer and geographic location. The survey is available online for $289 via http://salary-surveys.erieri.com. For more information, contact ERI Salary Surveys at (800) 627-3697.

 

For those interested specifically in benefits for nonprofits, the 2012 Benefits in Nonprofit Organizations, 12th Edition, will be available from ERI Salary Surveys in July 2012.

Participation in ERI’s 2012 Compensation Surveys Continues Through March 31st

Posted on | by ERI

ERI Salary Surveys will be collecting data for our 2012 compensation surveys through March 31, 2012.  We conduct more than 100 industry-specific and job function compensation surveys as well as two benefits surveys.  United States industries include manufacturing, retail, construction, and over 20 nonprofit activity areas.  Thirty industry surveys are conducted in Canada as well.  Surveys include approximately 100 benchmark jobs ranging from support staff to executive positions.  These traditional compensation surveys provide up to three survey data sources in one.  In addition to actual survey participant data from the collection period, you also receive two extra sources of data to use for comparison purposes.  Compensation surveys range in price from $489 to $689 and may be purchased on a national or statewide basis.  Visit ERI Salary Surveys for more information or to participate in a survey.  Survey participants receive a complimentary copy of the survey’s executive summary and a 50% discount on the purchase of the full survey results.  Participation in all applicable surveys is welcome.  By participating in our compensation surveys, you not only strengthen the data in the surveys, but also contribute to the quality of our Assessor Series datasets.

ERI Salary Surveys also conducts two benefits surveys, the Health Care Benefits Benchmarking and Benefits in Nonprofit Organizations.  The Health Care Benefits Benchmarking survey focuses on benchmarking employer-provided employee health care benefits.  The report serves as a valuable reference for considering plans, changes, and strategies for effective benefits management.  Data is reported by organization sector, industry group, geographic region, and organization size.  Participation in this survey closed on January 31st, and the report will be available April 2, 2012.  Visit the Health Care Benefits Benchmarking Survey page for more information or to order the survey.

The Benefits in Nonprofit Organizations survey includes information on medical, prescription, and dental costs, but also provides data on life/disability benefits, retirement plan practices, paid leave, and other benefits including executive perquisites in nonprofit organizations.  The data provided in this survey gives nonprofit organizations the tools needed to compare current benefit offerings to those of other nonprofit organizations throughout the United States.  Data is reported by organization scope, activity area, geographic region, and organization size.  Nonprofit organizations still have the opportunity to participate in this survey through March 31st.  Participants receive a complimentary copy of the executive summary and 50% discount on the purchase of the full report.  Visit the Benefits in Nonprofit Organizations Survey page for more information or to participate in the survey.

Why Should My Company or Organization Participate in Salary Surveys?

Posted on | by ERI

To start, ERI Salary Surveys participants receive results for half the price. Our numerous industry-specificand job function surveys provide HR and compensation professionals with a wide range of trusted resources for managing pay without breaking the bank. As an added value, those who contribute data also receive a complimentary electronic copy of the Executive Summary once the survey is released.

For Assessor Series subscribers, 2012 ERI Salary Surveys (PDF versions) are free with participation (printing and shipping costs apply to hardcopy requests). There is no limit to the number of surveys in which a subscriber may participate. Our salary surveys give subscribers a permanent copy of ERI pay information with a data date of March 31, 2012, in addition to actual participant data. By participating, subscribers add to the quality of ERI’s employer-provided salary databases, which are reflected in the Assessors you use. Please note: The offer is available to subscribers with valid license codes, and surveys must be accessed through the website via the Platform Library. If you are not already an Assessor Series subscriber, please sign up for a Guided Tour.

Participation in ERI Salary Surveys is easy; for-profit and nonprofit compensation and benefits survey submissions are accepted online, via email through an Excel copy of the questionnaire, or in the old-fashioned paper and pencil format by mail or fax. Data collection continues until March 30, 2012. The 2012 ERI Salary Surveys will be released in August. Results may be purchased on a nationwide or state basis.

New for 2012, ERI Salary Surveys is offering a Physicians Salary Survey for the United States and Canada. This job function survey includes a variety of positions, from toxicologist and pediatrician to psychologist and veterinarian. In total, more than 50 different jobs are included in the Physicians Salary Survey. This is also the first year for open participation in the Aerospace Salary Survey, which documents market-based pay for more than 100 industry-specific benchmark jobs, including executive positions.

Each survey reports employer-provided data derived from survey participants, digitized public records, and ERI Economic Research Institute’s patented online, interactive salary surveys and Assessor Series databases. Salary information for each job title represents actual data points—no attempt is made to alter the data as collected, reported, and graphically displayed other than to normalize collected compensation amounts to a common date.

Not only do you save money by participating in ERI Salary Surveys, your organization’s pay information enhances the validity of the results. For more information or to request participation materials, please email [email protected] or call 1-800-627-3697.

ERI Survey Shows 2012 U.S. Salary Increases of 2.8% Planned

Posted on | by ERI

While the strength of the U.S. economy remains uncertain, companies are still budgeting for some salary increases, according to the recently released ERI Economic Research Institute’s 2011 Salary Increase Survey. According to the survey, last year’s increase in salary budgets averaged only 2.2%, and 2.8% is budgeted for the coming year. Thus the trend of modest increases in salary and incentive budgets in recent years continues.

The salary increase received by any individual employee, in any specific job, and in any specific industry, may be very different from the average, however. Increases tend to be more and more based on what people do and the industry of their employers. In general, individuals who earn less are seeing lower increases, while more skilled and higher earning individuals within certain job groups receive more. As usual, there is no recession for key skills and talent.

ERI Economic Research Institute has been providing estimates of salary structure, budget, and merit increases since 1987. ERI uses this data in its Assessor Series® compensation survey software, which creates reports and analyses used by subscribers to set pay for more than 10 million employees. While other salary increase reports are based on information from a limited number of organizations on what they are projecting to pay (for example, traditional surveys ask what increases are projected for January 2012), ERI collects data throughout the year from its subscribers, allowing a continuously updated and detailed report that tracks trends much more precisely.

The 2011 ERI Salary Increase Report also details pay increases by broad job functions and here is where the differences begin to emerge.

The 2011 ERI Salary Increase Survey provides information on what increases were paid last year and what is expected for the coming year by industry, broad job function, individual job title, and geography. Get more information and order at www.erieri.com or call 800-627-3697.  ERI Assessor Series subscribers can access this ERI Salary Increase Report for free.

When was the Last Time You Adjusted Your Salary Structures for Compensation Planning?

Posted on | by ERI

Get ready for 2011 merit increases and compensation planning. Historically, at this time of the year, most compensation professionals on a fiscal calendar planning cycle begin “kicking off” their communications and planning calendars. Many anticipate this year to have the highest merit increases since the 2007 financial crisis, after “tightening the belts” the past few years.

Two things will be required to have an effective compensation planning cycle for 2011: Job Evaluations and Salary Structure Adjustments. Since workers are doing more with less, their jobs have likely changed, creating new hybrid jobs. Job evaluations to re-validate core benchmark jobs serve as a foundation for determining the salary structure adjustments. Unfortunately, there are no shortcuts here. Let’s take, for example, a retail organization in West Lafayette, Indiana, named Jenny Jeans. Two benchmark jobs, Warehouse Worker and Merchandise Marker, are representative of 15% of the company’s workforce and are in the same salary grade. The Compensation Analyst conducts a job analysis doing an on-site visit and concludes these two jobs have melded together to become a hybrid job subsequent to job losses experienced at the organization and is now titled Warehouse Merchandise Specialist. The new hybrid job responsibilities are weighted 40% Merchandise Marker and 60% Warehouse Worker.

Now, we want to market-price the core benchmark jobs (Cashier, Packer, and Warehouse Merchandise Specialist) in this salary grade and determine the adjustment to this grade within Jenny Jeans’ overall salary structure. To do this you will need to have access to recent salary survey data. Once you have the external data, market-price the benchmark jobs, calculate the differential between the market data and the actual internal pay rates and determine the adjustment to the midpoint or control point of the salary grade that is aligned with overall business objective and strategy. (Note, the market data has been adjusted to the January 2, 2012, effective planning date for the merit increases.) The minimum and maximum of the grade should be adjusted keeping the current spread (unless you are considering redesigning the overall structure, which is beyond the scope of this blog).

This process will need to be repeated for each salary grade in your salary structure. If you have any questions about the tools used in these explanations, please contact ERI at 800.627.3697.

ERI Salary Surveys Rolls Out 2011 Collection

Posted on | by ERI

ERI Salary Surveys has released its largest collection of industry-specific and job function surveys, more than 170 in all, for organizations researching market-based compensation data. Each survey reports employer-provided data derived from survey participants, digitized public records, and ERI Economic Research Institute’s patented online, interactive salary surveys and Assessor Series databases.

Salary information for each job title represents actual data points—no attempt is made to alter the data as collected, reported, and graphically displayed other than to normalize collected compensation amounts to a common date.

ERI Salary Surveys, which has been conducting surveys since 1967, offers electronic and hardcopy versions of its reports. Organizations seeking benchmark job comparisons have the opportunity to choose surveys by the size of their organization (large and small) and by location (state or national basis). In addition to reporting total annual direct compensation for each benchmark job, each survey identifies means, medians, and percentiles, as well as incentive and variable pay, and provides full job descriptions.

From All Manufacturing and Food and Beverage to the newest addition, Aerospace, ERI Salary Surveys covers a wide range of industries and job functions, starting at $244.50 per survey.

Surveys are available for online purchase at www.salary-surveys.eri.com. Participation in 2012 surveys opens October 1, 2011. Organizations that contribute information receive a 50 percent discount on the survey purchased and a complimentary copy of the Executive Summary. Participation is not required to purchase surveys.

ERI Salary Surveys also offers two surveys exclusively detailing employee benefits. The first, 2011 Benefits in Nonprofit Organizations identifies trends in nonprofit medical and dental coverage, as well as retirement plans and paid-leave options, among other benefits. The second, 2011 Health Care Benefits Benchmarking Surveycompares health care benefits among the nonprofit, for-profit, and government sectors.