Mixed Results from Florida's Employers: Study Finds Improvement in Employee Turnover Rates and Fewer Granting Merit Increases

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Effective Resources, Inc. releases 11th annual survey of Florida salary and benefits data, representing over 822,000 employees.

Even with the good news that more employers plan to dole out merit increases this year, employees can hardly bear any more economic burden.

Results are mixed for Florida's employers: a new study by Effective Resources, Inc., a leading human resources consulting firm, reports that the state's employers are reporting a lower monthly employee turnover rate as compared to last year, while a lesser number are planning merit increases.

The 2011 - 2012 State of Florida Salary, Wage and Benefits Survey from Effective Resources, Inc., encompasses data from 181 Florida employers who represent over 822,000 employees nationwide and nearly 135,000 employees in Florida alone.

Among the findings of the 2011 - 2012 survey of Florida's employers:

  •     The average monthly employee turnover rate for Florida is 2.0 percent-an slight improvement over last year's 2.1 percent and continues the positive turnover trend in recent years. In the past, Florida's average monthly turnover rate rose by one-tenth of one percent each year for several years in a row.
  •     The Not-for-Profit sector experienced the highest turnover at 3.9 percent, followed by Services (Business/Consumer) with 2.5 percent turnover.
  •     64.6 percent of Florida employers are planning merit increases next year, which is 17.6 percent fewer than last year. For those who are granting increases, the state's overall merit increase is projected to be 2.9 percent, a bit higher than last year's 2.8 percent projected increase.
  •     76.3 percent of Florida's employers report a rise in their medical insurance premiums this year of 10 percent or less (versus 61.4 percent last year), while 23.7 percent report a rise of 11 percent or more (versus 38.6 percent last year).

In addition to sharing its statewide survey findings, Effective Resources, Inc. is sharing regional findings for Tampa Bay, South Florida, Northeast Florida, the Gulf Coast, and Central Florida.

The 2011 -2012 State of Florida Salary, Wage and Benefits Survey findings are broken out by a number of useful categories including industry, region, company size by employees, and company size by sales/assets. There are wage and salary data for 325 jobs in a variety of industry sectors including Banking, Finance & Insurance, Government/Education, Healthcare, Hospitality, Manufacturing/Distribution, Sales (retail/wholesale), Services (business/consumer), and more. In addition, there is extensive benefits reportage with details for medical premium increases, life insurance and disability plans, medical out-of-pocket costs, 401(k) matching, vacation and sick time, and other issues of importance for today's employers.

"This is the eleventh annual salary and benefits survey that we've conducted in the state of Florida. We are delighted to continue to bring this information to Florida's employers," said Barry Brown, president of Effective Resources Inc. "Our data can be used as a critical benchmarking and planning tool for the state's employers."

The 2011 - 2012 survey was conducted, tabulated and reported by SalarySurveyOnline.com, a web-based data collection and reporting system designed and managed by Effective Resources, Inc. To learn more about the surveys and their availability, visit http://www.salarysurveyonline.com

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 and employee opinions surveys, as well as other areas of human resources. Effective Resources, Inc. has been in business since 1992. Visit our website: http://www.EffectiveResources.com

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Barry L. Brown SPHR CCP