Are Execs Receiving the Perks They Used To?

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Executive benefits and perks have undergone quite a bit of change since 2007 and several studies suggest that executives are no longer receiving the breadth of perks they used to several years ago.

A 2011 study conducted by CompData, for example, found a decline in the percentage of companies offering company cars, annual physical exams, and voluntary deferred compensation programs to CEOs from 2009 to 2011.

ERC's data shows similar trends. In analyzing changes to executive perks in our Executive Compensation Survey since 2007, several changes have been noted. Fewer organizations seem to be providing these to their executives, and particularly their CEOs.

Percent of employers offering benefits and perks to CEOs: 2007-2011 comparison

 

2007

2011

 

Mfg

NMfg

Mfg

NMfg

Company cars (company owned or leased)

50.0%

38.1%

43.0%

29.4%

Club memberships (business, social and/or country club)

34.4%

29.5%

28.8%

23.3%

Periodic physical exams

17.9%

12.3%

13.9%

8.1%

Special retirement plans (supplemental pension and/or thrift)

21.1%

23.1%

17.7%

18.7%

Additional life insurance

42.2%

32.2%

38.8%

27.1%

All-expense medical insurance

16.8%

17.5%

13.5%

13.0%

Estate planning

13.7%

7.5%

10.9%

4.6%

Legal counseling

11.8%

6.1%

9.5%

3.7%

Income tax preparation

25.2%

6.1%

16.8%

10.7%

Mfg = Manufacturing employers
NMfg = Non-manufacturing employers

Source: 2007 & 2011 EAA National Executive Compensation Surveys

Does this trend mean that employers should stop providing executive perks? Not necessarily.

Extra benefits and perks should be considered as part of the total compensation package. Perks in lieu of a higher base salary, for example, may be quite beneficial. Similarly, depending on the executive, it may be important to offer some of these perks in order to acquire the right talent.

Also, some benefits may be important to offer for your business' operations. For example, some organizations find it important to provide annual physical exams to their executives to ensure that their leaders are healthy and equipped for the job. Others find that their executives need to be provided with a vehicle or automobile benefits for ease of travel.

The decision to offer executive perks comes down to a few basic questions:

  • Does your organization need to provide special benefits or perks in order to attract executive talent? If so, which ones are most important or necessary?
  • Are other employers in your industry or size offering certain benefits or perks?
  • Can your organization afford to provide special benefits or perks?
  • Which executives will qualify for special benefits or perks?
  • What is the risk in not providing certain benefits and perks?

Finally, it's important to consider that executive positions can be demanding and extra benefits and perks can help increase productivity and support the executive.

To participate in ERC Compensation & Benefits Surveys, which reports executive compensation, benefits, and perks provided by employers, including those in Northeast Ohio, please click here.

Tips to Successfully On-Board Your New Hire

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A new job is an important decision in an employee's life and can elicit a number of emotions ranging from nervousness to excitement prior to the first day. HR can play an important role in capitalizing on these positive feelings and engaging new-hires throughout their first days. Here are some tips for successfully on-boarding your new-hire.

Make the pre-employment experience memorable.

Consider sending your new-hire a simple welcome package, calling them prior to their first day to welcome them, inviting them to a company event, and/or  sending a hand-written note or card. These unexpected, small gestures show that you are looking forward to working with the new-hire and reinforces their decision to come work for your organization. It also sends a positive message to their families.

Eliminate your probationary or introductory period.

Not only are these 90-day periods less common than they were several years ago, but there is no place for them in the workplace if you are confident that you have selected a great employee for the job. Requiring these periods in order for employees to continue employment and/or receive certain benefits tends to send the message that your new-hire "has to pass the test" to be a true employee of your organization and that you don't trust their potential. Is that the message you want to send to your new employee, and haven't they already passed the test if you made a good hiring decision?

Be prepared on day one.

Be ready for the new-hire when they arrive on their first day. Treat them like a guest by being ready at the front door, giving a guided tour, making introductions to staff members, providing lunch, and helping them at every step throughout the day. Ensure that their workspace is clean, stocked, and ready for work and that they have all the tools necessary to do the job, including proper equipment and computer programs. Make their first day as pleasant and as organized as possible and limit time spent on paperwork.

Cover the big picture.

Sometimes employers are so eager to get their new-hires working that they don't spend time educating them on the big picture, such as what the company does; it's history, mission, and vision for the future; its values and culture; its product and service offerings; industry; the markets and communities it serves; and the organization's structure. Spending time covering all of the core aspects of your organization's business is critical to helping the new-hire understand how their role fits into the organization.

Encourage relationship-building.

Provide time for your new-hire to build relationships with their supervisor and fellow team members by coordinating team events, social outings, one-on-one meetings, retreats, or other activities to help them learn about their fellow coworkers and build relationships with them. In addition, consider including your leadership team in the on-boarding process. Introducing new employees to senior management and allowing time to get to know them can build a sense of comfort, trust, and security in the leadership team.

Spend enough time on training and provide a mentor.

Surprisingly, many organizations don't spend enough time training their new-hires upfront, which can lead to a host of issues later. While you may want to get your new-hire started on tasks and projects, it's important to recognize that every new-hire (regardless of experience) will need training. Don't assume that they can just jump into the work with little direction or knowledge of your internal processes. If possible, also assign a "buddy" or mentor to help the employee learn and assimilate into the organization.

Ask for their feedback.

Throughout the first few months, it's important to establish checkpoints with your new-hire. If your organization doesn't have a formal feedback or survey process, ask new-hires a few simple questions - if the job is what they expected, what challenges they are experiencing, and if they are being provided with the right amount of training and support. Keep the lines of communication open with your new-hire to ensure that when a problem or misunderstanding arises, it is dealt with quickly.

On-boarding is about investing in employee retention, engagement, and productivity, so if you want to make sure your new-hire stays and thrives, consider these on-boarding practices. They are best practices from employers of choice in the region - NorthCoast 99 winners (www.northcoast99.org) - and will ensure that your new-hires are engaged and productive from the start.

Survey Highlights Common FMLA Administration Practices

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A 2011 survey conducted by ERC and CareWorks USA highlights common Family Medical Leave Act (FMLA) administration practices pertaining to tracking, calculating, and managing leave.

Most Northeast Ohio organizations are tracking FMLA using manual methods. The most common way organizations track FMLA is using timesheets and attendance cards (52%). Over 30% of organizations also track FMLA using Excel (36%) and/or through payroll (35%).

The survey also sheds light on how organizations administer other facets of FMLA, including how FMLA is calculated and whether it is run concurrently with other benefits. The survey found that few employers are using the calendar method to calculate FMLA and instead, using rolling 12 month periods. Specifically, 59% of employers reported using a rolling 12 month period measured backwards to calculate FMLA. Conversely, 34% of respondents use a rolling 12 month period measured forward.

In addition, many employers run FMLA concurrently with other benefits. The graph below highlights the most common benefits run concurrently with FMLA by employers.

"Running benefits concurrently helps eliminate benefit 'stacking.' While an employer wants to ensure employees are afforded the time off they need under FMLA, it is essential that they run FMLA concurrent with STD, WC and other medical leaves as appropriate to avoid any prolonged absences beyond the protected leave," explains Holly Moyer, Sr. Disability Management Consultant at CareWorks.

To download the full results of the survey, please click here. Or, to learn more about CareWorks and the services they can provide for ERC members as a Preferred Partner, please click here.

7 Strategies to Find Extraordinary Local Talent

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Is your organization looking for extraordinary talent and thinks it needs to search outside of your local community? Not so fast. Many employers think they can't find talent locally and pursue their search elsewhere, but local talent is at your fingertips if you use the right strategies.

Using local job boards, postings, and advertisements (either print or online) is a good start.  These days, however, employers need to go a few steps further to find the very best talent, including building strong local roots.

Here are some proven strategies used by other local employers to consider in your quest to find and hire exceptional local talent.

  1. Pay attention to and learn about local talent in the region. Read local publications and news. Learn about the successes of other companies and the individuals employed at those organizations.  Take notice of individuals gaining attention in the local media, those receiving industry recognition and awards, and those that contribute the community in their field of expertise.
  2. Develop a presence on social media. Join local groups on LinkedIn, follow local talent on Twitter, read their blogs, and/or create a Facebook page. There are so many ways to leverage these platforms to find talent. For instance, monitor key influencers and those people contributing quality questions and content.
  3. Participate in the community. Get involved in local chambers of commerce. Go to conference and community events held around your community. Join local chapters of professional associations.  Seek and attend speaking engagements. Do community service, participate on boards, and help our non-profits. Use local resources for leadership and employee development. Meet a diverse group of people, network, and learn who the key players are in your community.
  4. Connect with local colleges, universities, and vocational schools. Develop strong relationships with professors and career centers at those institutions. Pursue speaking engagements at colleges so that students are exposed to your company and its leaders.  Use alumni relations to stay in touch. Create internships and entry-level opportunities to keep young talent here for the future of the region.
  5. Encourage your employees to be active in their communities and engage in local professional groups for their personal development. They'll engage and network with others and potentially refer them to your organization for employment. Plus, they'll likely gain valuable professional skills in the process.
  6. Partner with local talent search providers and staffing organizations. There are plenty of them with unique expertise. Plus, they often have the best knowledge of the local labor market and how your organization can find great local people. Who better to trust in finding a local hire than a local staffing provider?
  7. Boost your local workplace intelligence. Know what other local employers are paying for certain talent and jobs. Understand the kinds of benefits and perks they offer to employees. Explore ways that other local organizations are creating attractive and engaging workplaces that keep great talent.

Finding local talent isn't easy, but if your organization is committed to hiring good people, it's worth the effort. Next time your organization is considering looking outside of Northeast Ohio for a great hire and thinks that certain talent doesn't exist in our region, try these strategies before taking your search elsewhere.

Additional Resources

NorthCoast 99
Get recognized as a great place to work in 2012 to help your organization better attract and retain top talent in Northeast Ohio by participating in our NorthCoast 99 program. Click here for more information.

Staffing Services
ERC partners with several local organizations dedicated to staffing, recruiting, and hiring talent. Our Preferred Partners provide various staffing services to ERC members at discount rates. Learn more

Survey Information
Use ERC's compensation, benefits, and policy/practice information to determine the pay, benefits, and practices other local employers use to attract and retain great talent. Click here for more information about our surveys.

Why You Can't Find the Right Hire

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Many employers are facing what is perceived to be a “talent shortage” – many applicants, but few qualified candidates. Even though this perceived talent shortage may be real, here are some other reasons why your organization may not be able to find the right hire.

You have too many job requirements.

Making your qualification requirements too detailed and specific can narrow your applicant pool and doesn’t necessarily ensure that you’ll hire a top performer. Many employers make the mistake of assuming that more experience, education, and specific skills mean a better performer, but fit and personality factors should also play a role. Requesting too many requirements could eliminate candidates that can do the job well and have growth potential. A classic example of individuals affected by narrow job requirements are recent college graduates, who may not necessarily have the skills or experience you are requiring, but may be top performers.

You have misconceptions about unemployed, disabled, and older workers.

Consider whether your organization is inadvertently discriminating against the unemployed, disabled, older workers by acting on misconceptions that these types of individuals are worse performers or less-than-ideal employees. Being unemployed, disabled, or older should not automatically eliminate applicants from being considered for employment. Not only will these misconceptions limit your applicant pool and cause you to miss a potential great hire, but they could eventually lead you to court. Plus, there are a number of successful companies that have tapped into these applicant pools and found top-quality hires.

Your sourcing is too limited.

If your organization is relying solely on job board postings to acquire talent, its sourcing strategy is probably too narrow and thereby ineffective. While job boards are still a common source used by employers to source talent, organizations need to tap both active and passive job candidates – those that are actively seeking new employment and those that are open to new job opportunities but aren’t actively searching. Many employers have turned to social media, networking, and “niche” recruiting to attract specialized talent and tap into these passive candidates.

You aren’t using your network.

A network is, by far, the best way to attract quality hires. Tap into your entire organizational network – including employees, customers, professional connections and relationships – for their recommendations on potential candidates.  They are usually thrilled to help and provide meaningful suggestions. Plus, referrals are one of the most effective ways to attract quality hires and are one of the least expensive sourcing strategies.

You aren’t willing to train and develop the skills you need.

It’s much easier to find an individual that has the ability and desire to learn then it is to find an employee with every skill you need, especially for hard-to-fill technical positions. Consider whether your organization is open to training and developing some of the skills you need but can't find. This option may save you significant time and recruiting costs and allows you to focus on less trainable attributes like culture fit during the hiring process.

Your candidate experience could improve.

Once you’ve found a qualified candidate, how does your organization treat and follow-up with them throughout the hiring process? Chances are, your responsiveness, flexibility, and communication with potential job candidates could improve. Remember that job candidates are just like customers and employees. They’re evaluating your organization and will tell others about their experiences. Make sure those experiences are positive.

You may not be setting your organization apart from the rest.

Finally, has your organization revealed to its applicants how it is it different from other companies? Perhaps it offers stability or advancement opportunities that other employers can’t provide. Maybe it is growing rapidly, has a unique family-friendly culture, or was recognized as a great place to work nationally or regionally. If you don’t talk about your strengths or promote why your organization is a great place to work, applicants won’t know what they are missing by not accepting a job at your organization. Gaining recognition as a great place to work, such as through the NorthCoast 99 program (www.northcoast99.org), and leveraging this to attract applicants, can boost your organization’s reputation and is often the best place to start when it comes to improving your ability to attract talent. It also shows that you care about being an employer of choice and strive to be a good workplace.

Talented employees are undoubtedly a sought-after commodity, but many employers have found that these strategies help them attract the very best talent. If your organization is facing its own “talent shortage,” keep these suggestions in mind.


For more information on how to earn recognition as a NorthCoast 99 winner and one of the best places to work in Northeast Ohio please visit www.northcoast99.org

Skilled Manufacturing Jobs See Higher Salary Increases than Unskilled

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Pay for skilled manufacturing jobs seems to be rising, according to a 2012 national survey released by ERC. Based on the 2012 EAA National Wage & Salary Survey, several skilled manufacturing jobs (namely supervision) saw higher salary increases than unskilled manufacturing jobs.

Median Salaries for Production Supervisors

 

2011

2012

% Change

Production Supervisor - Unskilled Operation

$50,447

$47,649

-6%

Production Supervisor - Semi-skilled Operation

$53,053

$54,485

3%

Production Supervisor - Skilled Operation

$57,842

$60,982

5%

Trades Supervisor - Production Support

$68,332

$70,184

3%

Source: 2012 EAA National Wage & Salary Survey

The survey reports a decrease in median salary from 2011 for production supervisors of unskilled operations, yet positive increases in median salaries from 2011 for production supervisors of semi-skilled, skilled, and trade operations. In fact, these increases were above the average salary increase of 2.8% in 2011. Employers reported the highest percentage increase (5%) in median salary for production supervisors of skilled operations.

Other data in the survey shows that several unskilled manufacturing jobs, including production workers and laborers, reported modest if any salary increases from 2011. These findings are consistent with local pay trends which show relatively stagnant wages for some manufacturing jobs, particularly unskilled ones.

The findings of this survey are consistent with other local and national trends we've seen, suggesting that skilled manufacturing jobs are in high demand and pay is beginning to reflect this demand. Pay is often a factor influencing retention for employees in the manufacturing sector, so providing above-average or competitive pay rates for manufacturing jobs will be crucial for employers seeking to attract and retain highly skilled manufacturing workers.

View ERC's Wage & Salary Adjustment Survey Results

The survey reports data from Northeast Ohio organizations regarding their actual and projected wage and salary adjustments.

View the Results

How to Pay Your Executives

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Executive pay is very different from other compensation practices you administer, involving greater pay-mix complexity, more components, and consideration of various business and legal factors. Here are executive compensation basics that you need to know to drive your business results as well as attract and retain key executive talent.

Create an executive compensation philosophy

Establishing and communicating a formal compensation philosophy for executives is an important part of an executive compensation program. This philosophy should clearly explain the principles on which executive compensation decisions are based and how executive pay programs are driving the organization's needs and strategic goals (Lupo, 2010). Comprehensive documentation of rationale supporting your organization's executive compensation programs is also an important part of your program. Additionally, this philosophy may define who qualifies for executive compensation (typically only the highest paid executives).

Invest time in executive compensation program design

Executive compensation should start with your business's goals and objectives. Define what the strategic objectives of the business are, how the company will define success in 3-5 years, the kind of talent needed to support its business strategy, and how long you want to retain the talent. This strategy will help your organization make decisions on the other elements of executive compensation design including pay mix, performance measures, and pay position relative to the market (Hosken & Laddin, 2011).

Additionally, identify taxes, governmental regulations, and industry trends that affect executives' compensation. All of these issues should play a role in how and what you decide to pay your leaders.

Gather executive compensation market data

Many organizations use market data to establish executive compensation. Choose surveys that are similar in revenue size and industry and whose participants reflect your peer group. Peer groups may be those companies similar in revenue, market, number of employees, or performance. Peer groups could also be companies that you compete with in your industry or for executive talent.

In addition to salary surveys, ERI is a strong data source to use for executive compensation decisions and contains specialized industry data. ERI's data meets expert witness reliability standards and is cited in Sarbanes-Oxley proxy disclosures as a data source used to determine executive compensation. Plus, ERI is relied upon by many private corporations smaller in size. You can also compare your positions to data from the most relevant or comparable public firms using proxy statements.

If your organization is a small to medium sized private company, however, be cautious when comparing your executives' compensation, benefits, and perquisites to only readily available information about public company executives. Only a small percentage of U.S. companies are public and these figures are usually much larger than what executives actually earn at similarly sized organizations (Chief Executive, 2011). For example, in one of our latest surveys, a CEO's median base salary was reported at $203,000 and median bonus was reported at $63,200, which are far lower than figures for much larger public organizations.

Benchmark types of executive compensation pay

Typically five types of pay should be benchmarked to obtain a true picture of how executives should be paid. These include base salary, short-term incentives, long-term incentives, perquisites, and benefits. As a result, a solid survey or source of compensation data should include at least the following information: base salaries, bonuses, total compensation, benefits, and perquisites.  Most organizations that we serve use bonuses (tied to organizational profitability/performance and individual performance) and base salaries for executive compensation.

When analyzing pay, revenue is usually the most common factor used to determine executive compensation because executive pay is directly related to size and revenue of an organization. Using industry can also be helpful, but look first at the revenue breakout. If the survey is smaller in scope, be sure to look at broader industry definitions for the most reliable results. These breakouts will tend to have more data.

Anticipate executive salary increases

Currently, executive salary increases and adjustments have been projected lower than past years. Traditionally, executive increases hovered around 4%, however, most surveys - including those conducted by Mercer, WorldatWork, and ERC show that executives can expect increases of around 3% in 2012. These projected increases, however, are slightly higher than the 2.8-2.9% increases seen since 2009, but do vary according to the position.

Keep in mind that making pay decisions (such as increases) for executives involves considering how those decisions will impact your organization's costs down the road.  A 4% increase for an executive translates to a much larger cost than a 4% increase for a factory employee.

These are just some of the basics of executive compensation that you can use to help determine how and what to pay your leaders. Keep in mind that managing executive pay can be very complicated, depending on your business, objectives, needs and peer group, so be sure to seek expertise in this area or credible market data on executive compensation practices to help you make good business decisions.

Additional Resources

ERC Membership

Members of ERC receive access to national and local salary, pay, and benefits survey data in addition the ERI's Salary Assessor and global pay information accessible through our HR Help Desk (hrhelp@yourerc.com). More info

Compensation Consulting

Our compensation consulting services cover a broad range of assistance on the total rewards spectrum, from basic job description updates to the complete design of organization-wide base salary compensation systems, executive compensation, and variable pay programs. For more information, click here.

Sources:

  • Hosken, E. & Laddin, D. (2011). Best Practices for Executive Compensation. WorldatWork Workspan.
  • Lupo, P. (2010). Top 10 Considerations for Establishing an Executive Compensation Philosophy. Pearl Meyer & Partners.
  • ChiefExecutive.net (2011). Media Wrong About CEO Compensation.

ERC Announces New International HR Resources for Members

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In 2012, ERC surveyed our members on their need for International HR resources and support. Due to our members’ growth of international operations and questions about how to manage employees outside the U.S., ERC is excited to announce the addition of several new global HR resources available to ERC members through our HR Help Desk. 

Supported by tools and resources including the BNA International HR Support Network, the Mercer International Geographic Salary Differential report, and Mercer Global Pay Summary Survey, ERC members can now receive guidance on questions regarding HR policies and practices in other countries, compensation data, employment law, and managing global employees or assignments. 

If you have an International HR question, contact our HR Help Desk at 440/947-1278 or hrhelp@yourerc.com.

7 Common Compensation Questions

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7 Common Compensation Questions

Types of sources to use, frequency of market studies, handling employee questions about fairness, etc.—these are just a few of many compensation issues and questions that you face every day. We've compiled answers to some of the most frequently asked questions we receive related to compensation.

1. What sources do most employers use to benchmark compensation?

Most employers use more than one salary data source to make compensation decisions.

Common choices of salary data sources include Mercer, Willis Towers Watson, Kenexa, CompAnalyst, ERI, and Aon Hewitt.

Local, state, and industry-specific surveys are also used, particularly in organizations with fewer than 200 employees.

2. How frequently should we be formally reviewing compensation?

The best practice is at least every two years; however, if your organization has made a number of changes to jobs, has fallen behind on benchmarking pay in the past few years, is competing for hard-to-find talent, or is focused on retaining above average talent, then it may consider benchmarking compensation more frequently.

In these cases, we suggest an annual review. Although you may only formally review compensation every other year, it's important to at least stay abreast of the latest compensation trends each year and review key positions.

You need to make sure that your key players' pay is in line with the market at all times.

3. What's the future outlook for compensation?

Salary increase budgets in the U.S. are expected to remain at about 3%, consistent with many past years. 

However, the rate of pay acceleration has in the market has increased dramatically which makes the need to watch for market related changes in pay that much more important. 

4. How do the rising costs of benefits play into compensation decisions?

Some employers have questions about how the rising costs of health care and other benefits play into decisions about compensation. Benefits and health care costs have become a larger component of the total compensation package offered to employees, so it's more important than ever before that employers are looking at total compensation in addition to base pay in order to make appropriate pay decisions.

There's also no question that rising benefits costs and uncertainty about the Affordable Health Care Act will likely be a consideration in overall costs. 

That's why it's important to review benefits and pay data annually to make sure you're in line with the market on both. This will provide you more insight on what changes you need to make in terms of cost-sharing, benefits contributions, and pay increases.

5. How should I evaluate compensation data?

Things to look for when evaluating compensation survey data:

  1. First, you will want to make certain you utilize credible, employer reported data from robust and reliable sources.
  2. Second, you'll want to research who participated in the survey and what geographic region the survey represents.
  3. Third, make sure you also know when the salary survey data is effective so that you make appropriate aging adjustments to ensure that you are comparing data according to consistent time periods.
  4. Fourth, look at participation in the survey, specifically the number of employers participating for each breakout reported.

Breakouts which have statistically significant participation are more reliable than breakouts with limited reporting.  That's why you may see less reliable salary trends in positions that have less participation.

6. What should we do if we find that pay isn't in line with the market?

Nothing or something—it all depends on your compensation philosophy, what the position is, which employee is in the position, and your ability to make the change.

If the employee is a solid performer, your philosophy is to pay at or above market, and the position is valuable to your organization, you should consider a phased approach to adjusting an employee's pay to market-competitive levels.

If the employee is a bottom performer and their position isn't valued, sometimes it's okay to do nothing. As an employer, you don't have to make pay adjustments unless you feel they are warranted and worthwhile.

7. One of my employees thinks their pay is unfair, what should I do?

Employees often question the competitiveness and fairness of their compensation and how they are paid relative to employees in similar roles at other organizations. Let's just say that pay is never a workplace issue with which employees are most satisfied.

This often stems from lack of transparency with regard to compensation administration and the proliferation of unreliable, employee-reported pay data available online.

Here are things you can do to make sure employees are aware of the steps your organization takes to keep compensation competitive:

  • Do your homework. Conduct market studies to see how employees' pay stacks up to other organizations.
  • Create and communicate a compensation philosophy or policy about how your organization intends to pay employees relative to the market. Most importantly, make sure employees understand it.
  • Explain the salary survey sources you use to benchmark compensation.
  • Show employees how you pay them relative to the market, such as actual market or survey data.
  • Communicate the process by which your organization makes compensation decisions as transparently as possible. It will make the process seem less mysterious and secretive.
  • Provide total compensation or rewards statements. Employees often don't realize how much they are earning in benefits and other perks your organization provides and these figures usually surprise them.

It's important to note that even despite your organization's best efforts to be transparent, there will always be a number of employees who aren't satisfied with their pay.

This is natural and common and isn't anything to be concerned about provided your programs and administration are legally compliant and you are attracting and retaining top talent.

ERC offers compensation and benefits consulting services including market pricing, total rewards strategy, and more.

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Training Salaries on the Rise

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According to the 2012 EAA National Wage & Salary Survey, salaries for training professionals rose from 2011. In particular, the median salary for Training Specialist I showed the highest increase of 8% from 2011 when compared with other training jobs surveyed. Similarly, the median salary for Training Managers saw an above average increase of 5%.

The data reported in this survey seems consistent with other salary trends reported by the American Society of Training & Development (ASTD) indicating that compensation for training, learning, and development professionals' exceeds the average U.S. income of $46,000 and that the majority of learning and development professionals received a pay raise within the past year.

These trends could suggest increasing demand for training and development professionals nationwide as organizations  continue to expand their training practices and enhance their learning and development activities.

For more information about the 2012 EAA National Wage & Salary Survey or to purchase it, please click here.