Compensation and Benefits Highlights from the 2017 Annual Surveys Completed by Johanson Group

Compensation and Benefits Highlights from the 2017 Annual Surveys Completed by Johanson Group

 
DBSquared
We are changing the way HR
is being done.
 
Mid September 2017
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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.

Coming Events:

Bruce Johanson will be presenting at the
Arkansas Bankers Association Meeting on October 24th, 2017.
For more info please click:
ABA

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