Projections for average pay increases in 2013 are unimpressive as reported by Compdata Surveys BenchmarkPro,which only anticipates a 2.8 percent jump over current budgets.
The average cost of insuring employees in the manufacturing sector continues to rise at a dramatic pace, putting considerable pressure on smaller companies in particular.
When the New Year arrives, another provision in the Patient Protection and Affordable Care Act will kick in —and this time it will affect the flexible spending accounts employees have established through their employers.
Compdata Surveys’ Executive Compensation 2012/2013 survey results reported chief executive officers earned an average base salary of $413,300 in 2012.
Compdata looked at base salaries for 26 senior management jobs below C-level. For the eighth consecutive year, commercial lending directors take the top spot, with the highest average paychecks.
Even as tuition rates continue to escalate, the number of working adults re-entering the classroom to earn college degrees is on the rise. Many employers in the United States have picked up on this trend and 56 per cent are offering tuition reimbursement to employees, found a survey by Compdata.
As determined by Compdata Surveys’ BenchmarkPro 2012, the national average total turnover rate for 2011 was 15.2 percent, up 0.8 percent over the prior year.
The report, Compensation Data Banking & Finance showed pay increase budgets at 2.7 percent, reflecting an increase from 2.6 percent reported the last two years.
The August 2012 workspan magazine cover article, “5 Steps to Revamp Your Compensation Plan” was written by Dane Sinn and Greg Wolf of Compdata Consulting.
The recently released 2012 Compensation Data Manufacturing & Distribution survey, put together by Compdata Surveys, also projects a slight increase to 2.9% for 2013.