Insurance Costs Remain High for Services Organizations

September 13, 2012  from: News

The 2012 Compensation Data Services survey results reported the average annual cost of insurance per employee on a services employer sponsored PPO plan is $7,414.

Services Employers Turn to Wellness Programs to Suppress Rising Costs

July 23, 2012  from: News

According to the 2012 Compensation Data Services results, services organizations contribute 8.2 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.

Services Employers Seek Ways to Create a Flexible Work Environment

July 9, 2012  from: News

Employers across the country are looking for ways to attract and retain employees without resorting to hefty pay increases or expensive benefit plans and 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.

Services Employers Scramble to Find Relief on Prescription Costs

June 25, 2012  from: News

Because the rate at which individuals developing chronic health conditions continues to increase, the expected decline in drug costs comes as little comfort to services 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. These increasing costs translate to higher premiums for employers and employees, as well as increasing co-pays.

Services Pay Increase Budgets Show Slight Uptick

June 5, 2012  from: News

The 2012 Compensation Data Services survey results reported pay increase budgets at 2.7 percent, reflecting a slight uptick from 2.4 percent reported in 2011 and 2.2 percent reported in 2010. Pay increase budgets are projected to remain relatively stable in 2013, dipping slightly to 2.6 percent.

Retirement Plans Become More Prevalent for Services Employees

March 13, 2012  from: dataLink

The recent volatility in the stock markets has once again shifted employees’ focus to retirement savings plans. While saving for the future is important, employees are questioning which options are the most beneficial. The 2011 Compensation Data Services survey results indicate that more than 72 percent of employees are enrolled in a defined contribution plan, similar to 2010 where that number was 71.4.

Services Organizations Seek Healthcare Cost Containment

March 13, 2012  from: dataLink

With the costs of medical insurance regularly increasing, services organizations look to other means in order to control costs. According to the 2011 Compensation Data Services survey results, the most common of those options is coordination of benefits at almost 80 percent. That number is up slightly from 78.5 percent in 2010.

Services Organizations Recruiting Practices Changing

March 13, 2012  from: dataLink

Technology and the economy have changed the recruiting landscape for the services industry. Based on the 2011 Compensation Data Services survey results, more organizations are using cash options as a recruitment tactic in the midst of a struggling economy. From 2010 to 2011, organizations offering a bonus based on length of employment increased from 10.8 percent to 13.5 percent.

Pay Range Adjustments Increase Slightly for Services

September 28, 2011  from: dataLink

As organizations balance the effects of the recession, pay range adjustments see little change overall while the time between increases grows, according to the 2011 Compensation Data Services results. The actual pay range adjustment of 1.6 percent in 2011 varied little from the 1.4 percent adjustment in 2010, but fell short of the projected 1.7 percent adjustment for this year.

Prescription Costs for Services Employees Remain Similar

September 28, 2011  from: dataLink

According to the 2011 Compensation Data Services survey, more than 95 percent of reporting services employers included prescription co-pays in the employee medical plan. In 2011, nearly 97 percent of preferred provider organization plans (PPO) include a co-pay while 86.9 percent of high deductible health plans (HDHP) include a co-pay.