Compensation and Benefits Highlights from
the 2017 Annual Surveys Completed by Johanson Group
Employee pay adjustments for 2017 will average 3% and merit pay budgets will average between 3.1% and 3.4%.
- The average employee base pay adjustments for 2018 will increase slightly due to increasing employment demand.
- Employee average merit pay budgets in 2018 will range from 3.2% to 3.6% but employers are moving forward with increasing variable pay options.
- National variable pay averages have increased to new levels as employers reward top performers.
- Employers are beginning to utilize compensation and benefits strategically to attract and retain competent employees.
- Above average retirement plan matching contributions by employers and profit sharing distributions are effective employee retention tools.
- Employers will help employees with student loan debt through creative compensation and benefit packages.
- Health insurance premium increases are partially mitigated by High Deductible Health Plan (HDHP) options with increasing deductibles and out of pocket maximums.
- Employers are using HSA contributions to help new employees with minimal personal savings to be prepared for unexpected medical expenses.
- Paid Time Off (PTO) plans are becoming more popular with employers over traditional sick and vacation time off plans.
Download our free HR Guide to a Compliant, Equitable & Competitive Compensation program on the right or click below to contact us for a free demo!