Kansas City, Kan. -- The newly released Compensation Data – Mid-South annual survey of 198 companies in Alabama, Louisiana and Mississippi found pay increase budgets are 3.76 percent for 2007 and are projected to be 3.72 percent in 2008. These numbers are up slightly from 2006 when they were 3.66 percent in the region.
National pay increase budgets were lower than those reported for the region at 3.65 percent. When comparing areas of each, Alabama pay increase budgets were highest in the Mobile/Southwest area, 3.92 percent. Louisiana’s were highest in the Central/Southwest area at 3.97 percent, while Mississippi’s were highest in Jackson/Central Mississippi, 3.93 percent.
Pay increase budgets vary slightly by industry for all three states. Results showed not-for-profits had the highest, 4.38 percent. Distribution and warehouse companies had the lowest, 3.21 percent. Many have talked about hiring shortages in health care, and current pay increase budgets were reported at 3.51 percent.
"To attract and retain top performers, employers should ensure they’re offering a complete compensation package," said Amy Kaminski, manager of marketing programs for Compdata Surveys. "Because not all employees are motivated by routine raises, organizations should look to other methods to boost their compensation packages. These could include increased time off and the introduction of flexible schedules."
About the Survey
"Compdata Surveys offers pay and benefits data on 539 job titles for organizations across the country," said Kaminski. "The results allow users to compare data by company size, industry and geographic region allowing customers to find information best fitting their needs."
Compensation Data 2007 – Mid-South contains data on 524 job titles ranging from entry-level to top executives. Information was collected on more than 289,000 employees across the region. The results provide a comprehensive summary of pay data, benefits information and pay practices with an effective date of March 1, 2007. Compdata Surveys, www.compdatasurveys.com, has been providing accurate, reliable data at affordable prices since 1988. For further information about the compensation and benefits surveys, contact Lane Odle at (800) 300-9570 or lodle[at]compdatasurveys.com.
The HR industry´s premier online community and resource for Human Resource professionals: HR, human resources, HR community, human resources community, HR best practices, best practices in human resources, online communities for HR, HR articles, HR news, human resources articles, human resources news, HR events, leadership, performance management, staffing and recruitment, benefits, compensation, staffing, recruitment, workforce acquisition, human capital management, HR management, human resources management, HR metrics and measurement, organizational development, executive coaching, HR law, employment law, labor relations, hiring employees, HR outsourcing, human resources outsourcing, training and development
hr.com.
human resources management resources for hr professionals. |
HR menus
|
HR events
|
HR Sitemap