The Anatomy of a Compensation Survey (And Why It Matters)

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The Anatomy of a Compensation Survey

Whether your organization is looking to market price a brand new position for a job posting, make an offer to a potential new employee, overhaul your entire salary range structure, check to see if your wages are keeping pace in your industry, or simply trying to stay true to your compensation philosophy, there is one tool that is indispensible—the compensation survey.
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ERC Releases Wage and Salary Data for Northeast Ohio

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ERC, Northeast Ohio’s leading publisher of local workplace information and salary data, has released the results of its 2012 annual wage and salary surveys. These surveys serve as a critical compensation benchmarking resource for employers across Northeast Ohio that are looking to stay competitive in the region by attracting and retaining top talent.

The 2012 ERC Salary Survey reports annual salaries for 8,508 individual employees in 241 professional and management positions from 196 Northeast Ohio organizations. The 2012 ERC Wage Survey reports hourly pay information for 8,127 individual employees in 80 hourly production, maintenance and service positions from 149 Northeast Ohio employers.

“To effectively compete for talent, it’s important for employers to benchmark their pay rates and practices,” states ERC’s director of research and membership. “These surveys provide Northeast Ohio employers with comprehensive local data that helps inform their decisions regarding wages and salaries.”

The 2012 results suggest fairly stable pay rates overall, and continue to reflect the same stagnant growth pattern that has become the norm for the region in recent years.

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