IOMA’s Report on Salary Surveys has been one of IOMA’s best-renewing publications from its inception in early 1993. The Report analyzes data from major salary surveys released during the year by the biggest compensation survey companies, WorldatWork, SHRM, state HR societies, and the Big Four accounting firms, to give readers an overview of those expensive, hard-to-manage services. RSS’ goal is to provide data HR managers, VPs of Benefits, Compensation Directors, Treasurers or Controllers can use to determine competitive compensation packages and control payroll costs. IOMA’s Report on Salary Surveys is a must-read for any manager in HR, Compensation/Benefits who does the research and groundwork that helps to create a company’s salary scale. RSS includes a Calendar of compensation-related events, a quarterly survey source index, and exclusive data from IOMA’s in- house survey dept.
The economy may be down in the dumps, but the recently graduated class of 2008 has found a bright spot—an increase in starting salary offers, according to results of the Fall 2008 Salary Survey from by the National Association of Colleges and Employers (NACE).
Two studies predict pay increases of 3.7 percent for 2009, but there is the possibility that top-performing individuals may receive more. One survey, the 2008/2009 US Compensation Planning Survey from Mercer, reports that U.S. employers plan to award average pay increases of 3.7 percent in 2009, compared to 3.8 percent in 2008. Raises are higher, however, for the most productive employees and high-performing industries regardless of the current economic environment.
The economic picture appears bleaker than ever, with both employees and companies facing higher costs for nearly everything, coupled with lower incoming profits. And now, it’s time for that annual review and raise (or so the employee hopes). What’s an HR professional to do?
Survey Overview
Unemployment may be up in many professions, but health care-related fields continue to be a bright spot. The demand for qualified professionals remains high, with many firms struggling to find qualified candidates for key positions, according to Medical Device & Diagnostic Imaging magazine’s MD&DI Annual Salary Survey. This demand means that medical device professionals, including those in research and development, are experiencing strong compensation and high job satisfaction.
The Top Compensation Concerns—and Solutions Exclusive IOMA Survey Reports on Compensation Technology How Geography Affects Pay Levels Forecasts for 2009 Salary Increases Study Examines Salaries for Security Directors Compensation for Legal Professionals…
Survey Overview
Salaries in the manufacturing field reflect the recent difficulties the industry has been facing. Increases have been relatively modest. Companies need to ensure they are not overpaying employees—or underpaying and risking losing valued personnel. One recently released study is the 2008 Manufacturing Survey from Abbott, Langer Association Surveys.
Mercer Study Finds Pay for Pharmacists Is on the Rise
Pay for retail staff pharmacists rose nationwide, according to the 2008 Pharmacy Compensation Survey from Mercer. This position receives median total cash compensation (which includes base salary and annual bonus) of $108,700 this year compared to $102,800 in 2007, an increase of 5.8 percent. Other jobs in the survey showing similar year-over-year pay increases include hospital staff pharmacist (6.5 percent) and clinical pharmacist (5.2 percent). The…
Talent Management, Chicago, Nov. 6-7. Contact: American Management Association, 800-262-9699; www.amaseminars.org.
2008 Canadian Total Rewards Conference, Toronto, Nov. 17-19. Contact: WorldatWork; 877-951-9191; www.worldatwork.org.
Compensation Conference, Washington, D.C., Dec. 9-10. Contact: Conference Board, 212-339-0345; customerservice@conference-board.org; www.conference-board.org.
SHRM’s Staffing Management Conference, April 28-30, 2009, Las Vegas. Contact: Society for Human Resource Management, 800-283-7476; shrm@shrm.org; www.shrm.org/conferences/. …
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