Florida Salary and Benefits Survey: Employee Turnover Down, Merit Raises on Slight Rise
Contact Information:
Barry Brown, SPHR CCP
Effective Resources, Inc., President
Voice: 727-944-2507
E-Mail: e-mail protected from spam bots
Florida Salary and Benefits Survey: Employee Turnover Down, Merit Raises on Slight Rise
Effective Resources, Inc. releases study data representing more than 2.1 million employees and 530 Florida employers
HOLIDAY, FL, October 18, 2005 Effective Resources, Inc., in coordination with the HR Florida State Council, a council of the national Society for Human Resource Management, has conducted their annual statewide salary, wage and benefits survey. The surveys include data reported from over 530 Florida employer participants, representing more than 2.1 million employees.
Aggregate wage information is reported for 331 jobs with data break-outs by region/county, industry, company size, and more. The surveys also include an extensive, detailed nine-section benefits report 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 important issues facing todays employers.
The regional surveys cover Tampa Bay, South Florida, Central Florida, Gulf Coast, Space and Treasure Coast, North Florida and Panhandle, Northeast Florida and the overall survey covers the entire State of Florida. The wages reported are as of August, 2005, and include industry groups such as Banking, Finance and Insurance, Government/Education, Healthcare, Hospitality, Manufacturing and Distribution, Not-for-Profit, Staffing/Employer Services and Retail.
Among the highlights of the 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 the highest group being Hospitality at 4.2%, followed by Retail at 3.6% per month. Monthly turnover in the smaller organizations (under 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 less than 4.0%, the survey found, but slowly climbing towards the 4 percent level last seen in the 1990s. The reported 3.8% planned merit increase 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 Floridas minimum wage bill.
While almost no business was left unaffected by natures onslaught of Floridas hurricanes in 2004, we have all been able to get on with business for the most part and, some, even thrive, said Barry Brown, President. As a result, this years survey has the largest participation we have ever had and reports invaluable information for Florida employers.
Visit http://www.salarysurveyonline.com to learn more about the surveys and their availability.
Click here to view a complimentary Executive Summary:
http://www.SalarySurveyOnline.com/Default.asp?Location=ES/FL2005ES.pdfandRefCode=PressRelease2005
About Effective Resources
Effective Resources, Inc. is a leading human resources consulting firm specializing providing companies assistance with compensation issues, affirmative action plan preparation, salary surveys, employee opinions surveys as well as other areas of human resources. Effective Resources, Inc. has been in business since 1992. Visit its website at: http://wwwEffectiveResources.com
This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: www.HRmarketer.com) on behalf of the company listed above.
Barry Brown, SPHR CCP
Effective Resources, Inc., President
Voice: 727-944-2507
E-Mail: e-mail protected from spam bots
Florida Salary and Benefits Survey: Employee Turnover Down, Merit Raises on Slight Rise
Effective Resources, Inc. releases study data representing more than 2.1 million employees and 530 Florida employers
HOLIDAY, FL, October 18, 2005 Effective Resources, Inc., in coordination with the HR Florida State Council, a council of the national Society for Human Resource Management, has conducted their annual statewide salary, wage and benefits survey. The surveys include data reported from over 530 Florida employer participants, representing more than 2.1 million employees.
Aggregate wage information is reported for 331 jobs with data break-outs by region/county, industry, company size, and more. The surveys also include an extensive, detailed nine-section benefits report 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 important issues facing todays employers.
The regional surveys cover Tampa Bay, South Florida, Central Florida, Gulf Coast, Space and Treasure Coast, North Florida and Panhandle, Northeast Florida and the overall survey covers the entire State of Florida. The wages reported are as of August, 2005, and include industry groups such as Banking, Finance and Insurance, Government/Education, Healthcare, Hospitality, Manufacturing and Distribution, Not-for-Profit, Staffing/Employer Services and Retail.
Among the highlights of the 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 the highest group being Hospitality at 4.2%, followed by Retail at 3.6% per month. Monthly turnover in the smaller organizations (under 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 less than 4.0%, the survey found, but slowly climbing towards the 4 percent level last seen in the 1990s. The reported 3.8% planned merit increase 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 Floridas minimum wage bill.
While almost no business was left unaffected by natures onslaught of Floridas hurricanes in 2004, we have all been able to get on with business for the most part and, some, even thrive, said Barry Brown, President. As a result, this years survey has the largest participation we have ever had and reports invaluable information for Florida employers.
Visit http://www.salarysurveyonline.com to learn more about the surveys and their availability.
Click here to view a complimentary Executive Summary:
http://www.SalarySurveyOnline.com/Default.asp?Location=ES/FL2005ES.pdfandRefCode=PressRelease2005
About Effective Resources
Effective Resources, Inc. is a leading human resources consulting firm specializing providing companies assistance with compensation issues, affirmative action plan preparation, salary surveys, employee opinions surveys as well as other areas of human resources. Effective Resources, Inc. has been in business since 1992. Visit its website at: http://wwwEffectiveResources.com
This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: www.HRmarketer.com) on behalf of the company listed above.
posted by Fisher Vista, LLC at 11:39 AM
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