MRA Publishes 2012 Compensation Surveys for Executive, Managerial, Professional, Technical, Service, and Clinical Jobs

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Pay Strategy Key to Employee Retention

Kristin Reed, Director of Surveys MRA

Successful companies are proactively focused on engagement and retention of employees, as opposed to spending thousands of dollars on rehiring expenses resulting from disengagement and high turnover.

MRA, a not-for-profit employers association, recently published three of its annual compensation survey reports: The 37th Annual National Executive Compensation Survey, the 2012 Managerial, Supervisory & Professional Salary Survey, and the 2012 Non-Exempt Wage Survey.

Summarizing confidential data, MRA’s compensation reports include national and regional job and wage data from leading U.S.-based companies in a variety of industries. MRA has published compensation surveys since 1919. These surveys, available for purchase, are conducted to identify trends and to supply business executives with insights on planning and implementing competitive compensation strategies in order to attract, motivate, and retain the best employees – especially as the job market opens up.

Business research has found that employees who believe they are paid fairly are 4.5 times more likely to be engaged in the workplace, as compared to those employees who do not believe their pay is fair. It has also been demonstrated that workplace engagement leads to employee and customer retention. It’s in the best interest of companies to maintain a competitive compensation strategy.

“Successful companies are proactively focused on engagement and retention of employees, as opposed to spending thousands of dollars on rehiring expenses resulting from disengagement and high turnover,” commented Kristin Reed, Director of Surveys at MRA. She added, “We know that pay is not the magic solution for employee retention and engagement, yet an employee’s belief that they are being paid equitably is a necessary foundation for retaining and engaging that employee.”

MRA Publishes Three Annual Compensation Surveys
Each of the following three 2012 compensation survey reports are available for purchase. Companies that participated in the survey receive a complimentary report. Survey results are summarized by industry, employee count, geography, and company revenue. The user-friendly reports feature unique sections for Northern Illinois, Wisconsin, and Iowa regions, and National data where applicable.

  •     The 37th Annual National Executive Compensation Survey

o    Reports on 46 occupations in manufacturing and service firms
o    Combines Midwest data from survey participants with survey responses from 20 other employers associations throughout the U.S.
o    The report consists of two volumes (Volume 1: National data from 2,235 companies in 21 geographies, reporting on 11,948 executives; Volume 2: Local benchmark data from 300 Midwestern companies, reporting on 1,921 executives, predominately in Wisconsin)
o    Base salaries, bonuses, other cash compensation, and benefits
o    Information on outside directors' compensation
o    View the survey report table of contents and order the survey report at http://www.mranet.org/tabid/218/default.aspx

  •     2012 Managerial, Supervisory & Professional Salary Survey

o    Includes data collected on 300 full-time exempt occupations located in the Midwest
o    View the survey report table of contents and order the survey report at http://www.mranet.org/tabid/201/default.aspx

  •     2012 Non-Exempt Wage Survey

o    Includes office, technical, service and clinical job data on 188 full-time occupations located in the Midwest
o    View report table of contents and order the survey report at http://www.mranet.org/tabid/220/default.aspx

About MRA’s Surveys
MRA’s survey data is utilized by key company executives who have chief responsibility for compensation planning and human resource performance. Available for purchase by MRA members and the business community at large, MRA publishes numerous annual compensation-related surveys: National Executive Compensation Survey, Pay Trends & Talent Strategies Survey, Managerial, Supervisory & Professional Salary Survey, Non-Exempt Wage Survey, Wage Survey of Industrial Jobs, National IT & Engineering Compensation Survey, Insurance Plans: Health & Prescription Drugs Survey, HR Policies & Benefits Survey, Holiday Practices Survey, National Sales Compensation & Practices Survey, and National Economic Trends Survey. Learn more about MRA’s surveys by visiting http://www.mranet.org/tabid/157/default.aspx. For additional information call 800-488-4845 or email surveys(at)mranet(dot)org.

About MRA - The Management Association
Founded in 1901, MRA is a not-for-profit employers association serving over 3,000 employers in Wisconsin, Illinois, and Iowa, covering nearly 500,000 employees. MRA, the largest employers association in the Midwest and the second largest in the nation, helps its member organizations to thrive by creating powerful workforces and safe, successful workplaces. MRA delivers more than 1,000 learning opportunities each year. Organizations join MRA as members and receive access to expert advice, best practices, professionally facilitated interest groups and roundtables, essential tools, and dozens of business services in the areas of human resources and training. In January 2012, MRA created the Safety Council of Illinois (SCIL) to provide workplace safety education to Illinois businesses and public entities. To learn more and to become a member of MRA, visit http://www.mranet.org/Home.aspx. To learn more and to become of member of SCIL, visit http://www.safetyillinois.org.

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Michelle Love-Johnson

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