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.
The 2012 Compensation Data Not-For-Profit survey results reported the average annual cost of insurance per employee on a not-for-profit employer sponsored PPO plan is $8,859. That’s up from $7,543 reported in 2009, an increase of 17.4 percent in three years.
In 2012, more than half of hospitality employers experienced increases to their medical insurance premiums, according to the 2012 Compensation Data Hospitality survey results. The average increase reported by these organizations was 8.4 percent, down from 9.3 percent reported in 2011 and 9.9 percent reported in 2010.
The Benefits USA 2012/2013 survey results found 89.7 percent of companies offer a flexible spending account to their employees, with 23.6 percent of employees at these organizations enrolling in them.
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.
In 2012, nearly 59 percent of banking and finance employers experienced increases to their medical insurance premiums, according to the 2012 MCompensation Data Banking & Finance survey results. The average increase reported by these organizations was 8.4 percent, down from 9.6 percent reported in 2010 and 2011.
The 2012 Compensation Data Manufacturing & Distribution survey results reported the average annual cost of insurance per employee on a manufacturing and distribution employer sponsored PPO plan is $8,326. That’s up from $7,227 reported in 2009, an increase of 15.2 percent in three years.
Employers across the country are looking for ways to attract and retain employees without resorting to hefty pay increases or expensive benefit plans. As a result, some employers have found that adopting a results-only work environment (ROWE) may be the key to creating an attractive work environment for employees.
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.
The average medical insurance premium increase reported by not-for-profit organizations in 2012 was 8.6 percent, down from 9.9 percent reported in 2011 and 10.3 percent in 2010. Despite the drop in the average premium increase, not-for-profit organizations still contribute 10.6 percent of their total payroll costs toward providing medical insurance to their employees. Employers everywhere are looking for ways to curtail rising healthcare costs and as a result, many are turning to wellness programs.