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.
Nearly two-thirds of insurance employers this year faced higher medical insurance premiums, according to the 2012 Compensation Data Insurance survey results.
Because the rate at which individuals developing chronic health conditions continues to increase, the expected decline in drug costs comes as little comfort to insurance industry employers who are largely footing the bill, as an overwhelming majority still offer prescription coverage to employees as a part of their medical plan.
The Compdata Surveys 2012 Compensation Data Insurance survey reveals pay increase budgets are at 2.8 percent, essentially reflecting no change since 2010.
A broad survey of organizations within the healthcare industry show that pay increase budgets – the money allocated primarily for pay raises of existing employees – rose a modest 2.5 for 2012, according to Compensation Data Healthcare from Compdata Surveys.
Just in time for Administrative Professionals Day, Compdata says salaries for executive assistants, admins, and other office support staff are inching up.
The Benefits USA survey reports that 21.9 percent of companies provide retirees with the option of obtaining health coverage, which is slightly lower than the 22.9 percent reported in 2006.
In 2011, 48 percent of companies offered weight management programs, up from 42 percent in 2009, according to Compdata Surveys, a leading compensation and benefits survey data provider.