Kansas City, Kan. -- The newly released Compensation Data – Georgia annual survey of 173 companies found pay increase budgets are 3.64 percent for 2007 and are projected to decrease to 3.57 in 2008. Georgia pay increase budgets have increased over the last three years. In 2006, the pay increase budget was 3.54 percent and 3.34 in 2005.
Although the results show pay increase budgets for Georgia have increased, this trend is also seen nationally. National pay increase budgets were 3.65 percent in 2007. This number is inline with the state average. When compared to the rest of the state, pay increase budgets were highest in the Columbus area, 4.06 percent.
Georgia pay increase budgets vary slightly by industry. Results showed real estate and construction organizations had the highest, 4.53 percent. Distribution and warehouse companies had the lowest with 3.27 percent, according to the results. Health care pay increase budgets have increased from 3.5 percent in 2006 to 4.1 percent in 2007.
"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 – Georgia contains data on 478 job titles ranging from entry-level to top executives. Information was collected on more than 206,000 employees across the state. 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 Lyons at (800) 300-9570 or llyons[at]compdatasurveys.com.
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