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The latest news, trends and information to help you with your recruiting efforts.

Posted November 14, 2012 by

Average Pay Projected to Increase 2.8% in 2013

Amy Kaminski of Compdata Surveys

Amy Kaminski of Compdata Surveys

The average pay increase budget projected for organizations in 2013 is 2.8 percent, up slightly from 2.7 percent reported in 2012 according Compdata Surveys 2012 BenchmarkPro survey results. Pay range adjustments aren’t expected to show much improvement either as more than three-quarters of organizations have a formal pay structure with pay ranges in place that have or will be adjusted in 2012. The average pay range adjustment reported in 2012 was 1.9 percent, up from 1.7 percent reported in 2011 and 1.6 percent reported in 2010. Pay range adjustments are projected to remain stable in 2013 at 1.9 percent.

Pay range adjustments vary by industry as employers in utilities reported adjustments of 1.9 percent. Banking and finance and hospitality organizations reported pay range adjustments of 1.7 percent and 1.6 percent, respectively. Manufacturing and distribution organizations are projecting the highest adjustment amount for 2013 at 2.2 percent, while not-for-profit is projecting the lowest, 1.4 percent. (more…)

Posted October 30, 2012 by

Election Likely to Impact Income Disparity Between Workers, Executives

CEO pay increases

Courtesy of Think Progress

With the election just two weeks away and much emphasis being placed on the increasing wage gap between the upper and middle classes, executive pay is once again becoming a source of scrutiny for many Americans. Compdata Surveys’ Executive Compensation 2012/2013 survey results reported chief executive officers earned an average base salary of $413,300 in 2012.

Chief operating officers earned $261,400 in 2012, while chief financial officers earned $235,200. Top marketing executives brought in an average annual base salary of $190,400, compared to top human resource executives at $184,100. The average base salary for a vice president was reported at $162,800. (more…)

Posted October 15, 2012 by

83% of Employers Offer Merit Pay Increases to Improve Retention

Amy Kaminski of Compdata SurveysAs the job market slowly continues to open up, more employers are seeking ways to attract and retain the most valuable talent, and many are looking to rewards systems to facilitate this process.  The Compdata Surveys BenchmarkPro 2012 survey results found 82.8 percent of employers offer merit increases as one of the many systems used to reward employees. The average merit increase budget reported for 2012 was 2.7 percent, with 2.8 percent projected for 2013.

Bonuses are a popular reward option, as they are offered by 67.6 percent of employers surveyed. Nearly 40 percent of organizations use incentive pay, compared to spot incentives at 23.6 percent. Skill-based pay is utilized by 12.6 percent of survey respondents and key contributor rewards are used the least, 4.9 percent. (more…)

Posted March 28, 2012 by

Non-Profit Workers Pay Increases 8.4% From 2011

Tom Bailey of Total Compensation SolutionsWorkers at not-for-profit organizations are generally feeling a little wealthier this year as compared to a year ago. They’ve seen their base pay increase by an overall average of 8.4 percent compared to 2011 according to a new study published by Total Compensation Solutions (TCS).

“This increase is significantly higher that we have seen over that last two study cycles 2008 to 2009 and 2009 to 2010,” says study project manager Tom Bailey. “The increases for the previous two study cycles reflected the severity of the economic recession with marginal increases of 2.4 and 1.5 percent respectively.” (more…)