More than 45% of area employers are expected to increase pay and bonuses to attract and retain talent,*
Tampa Bay, FL (PRWEB) August 7, 2006
Effective Resources, Inc. is conducting its sixth annual benchmarking survey of salary, wages and benefits offered by Florida employers via their secure survey website,SalarySurveyOnline.com.
With clients in virtually all industry groups, Effective Resources saw the need for employers to provide more local details in order to attract and retain workers within Florida, rather than use regional or national averages.
“More than 45% of area employers are expected to increase pay and bonuses to attract and retain talent,*” explained Barry L. Brown, President. “It's more important than ever to have local, accurate and up-to-date salary data. Any Florida employer evaluating whether they have a competitive benefit and compensation package should be interested in this survey.”
Among the highlights of the last survey:
- Employee turnover has decreased over the past year for Florida employers. The average rate in Florida is 2.3% -- down from the 2.9% reported last year, and 2.7% the previous year. Monthly turnover rates since last year vary among industry groups, with hospitality being the highest group at 4.2%, followed by retail at 3.6% per month. Monthly turnover in smaller organizations (fewer than 50 employees) dropped from 3.2% in 2003 to 2.7% in 2004, and dramatically lowered to 1.9% in the latest survey.
- Continuing the trend that started in recent years, the planned average merit increase is 3.8 percent, the survey found, but is slowly returning to the 4 percent level last seen in the 1990s. The reported merit increase rate is two-tenths higher than last year and remains conservative, as many employers are still uncertain about the economy, political impact on their business, and the ongoing impact of Florida’s minimum wage bill.
In ongoing efforts to meet the needs of Florida employers, new for 2006, SalarySurveyOnline.com has benchmarked job positions in two additional industries: construction and law. You can see a complete industry list at http://www.salarysurveyonline.com/FAQ.asp. Also new for 2006, participants can purchase their surveys in MS Excel format in addition to PDF, CD ROM, and hard-copy prints.
Survey results will be available to prepaid participants for $79, or $159 for participants who pay upon publication of the results (cost for non-participants is $299).
Effective Resources has been providing annual salary surveys for Florida employers since 1993. The survey provides employers with the information they need to make sound business decisions by comparing themselves to others in their industry, location and size. Employers interested in participating should go to http://www.salarysurveyonline.com/SignUp.asp.
About Effective Resources
Effective Resources, Inc. is a leading human resources consulting firm specializing in providing companies assistance with compensation issues, affirmative action plan preparation, salary surveys, employee opinions surveys and other areas of human resources. Effective Resources, Inc. has been in business since 1992. Visit its website at: http://wwwEffectiveResources.com
*South Florida Business Journal - May 2006
This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: http://www.HRmarketer.com) on behalf of the company listed above.