Compdata Surveys & Consulting Blog

Kristen Fanning

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Manufacturing & Distribution 2017 Pay & Benefits Quick Facts

Posted by Kristen Fanning on Aug 28, 2017 9:09:38 AM

With 2017 pay increase budgets stagnant at 2.9 percent, employers are experiencing a rise in voluntary turnover among their staff. With the average voluntary turnover rate reported as 9.8 percent compared to 7.9 percent three years ago, employers must rethink their strategies in recruiting and retaining an engaged workforce in today’s market.

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Topics: compensation, News, Turnover, Benefits, Manufacturing & Distribution, Recruiting, Salaries, Manufacturing, pay increase budgets, Survey Results, Compensation Data, Distribution, Recruiting Trends, #Pay, HR, Pay and Benefits, Data

Pay, Recruitment and Turnover: Trends to Know in 2017

Posted by Kristen Fanning on Jul 24, 2017 2:54:20 PM

With 2017 pay increase budgets stagnant at 2.8 percent, employers are experiencing a rise in voluntary turnover among their staff. With the average voluntary turnover rate reported as 13.5 percent compared to 10.4 percent five years ago, employers must rethink their strategies in recruiting and retaining an engaged workforce in today’s market.

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Topics: compensation, News, Turnover, Benefits, Recruiting, Salaries, pay increase budgets, Survey Results, Compensation Data, Recruiting Trends, #Pay, HR, Pay and Benefits, Data

Interesting Tidbits from the Recently Released Colleges & Universities Survey

Posted by Kristen Fanning on Jul 17, 2017 9:31:26 AM

The 2017 Compensation Data Colleges & Universities results are now available! This year’s results feature data collected from 300 higher education organizations across the country.

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Topics: compensation, News, Salaries, pay increase budgets, Survey Results, Compensation Data, Cost Reduction, HR, Hire-on Rates, Colleges, Universities, Higher Ed

Pay, Turnover and Recruitment, Oh My! 2017 Healthcare Results Now Available

Posted by Kristen Fanning on Jul 13, 2017 4:26:19 PM

The 2017 Compensation Data Healthcare results are now available! This year’s results feature data collected from 11,000 healthcare employers with more than 11 million incumbents across the country.

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Topics: compensation, News, Turnover, Recruiting, pay increase budgets, Healthcare, Survey Results, Compensation Data, #Pay, HR

2017 Projected Pay Increase Budgets

Posted by Kristen Fanning on Jul 10, 2017 2:03:53 PM

Many companies want to know how their compensation practices align with others in their industry. The 2017 projected pay increase data has been released and is outlined by industry below. View the image below and find out where your company stands in comparison.

Pay increase budgets are not yet showing significant movement.  However, with employers facing challenges to keep up with staffing needs, we may see a shift in this trend in the coming years. Four factors will force employers to focus on competitive offerings to maintain successful recruiting and retention:

  • Voluntary turnover rates are up, as consumer confidence is higher than it has been in a decade. 
  • Economists predict today's skill shortages will become increasingly prominent over the next five to ten years. 
  • Baby boomers are reaching retirement age and starting to leave the workforce.
  • Millennials are changing jobs more than prior generations.  

We're keeping an eye on salary structure adjustments. There are early indications that employers are not waiting as long to make pay range adjustments. This will eventually impact pay increase budgets as a whole.

 

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Topics: compensation, News, Salaries, pay increase budgets, Survey Results, Pay Increases

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