2020 cross-industry benefits and compensation survey
With the U.S. economy near a state of full employment, how does a firm ensure their compensation levels are remaining competitive? Research indicates that losing an employee can cost employers between 30-40% of an hourly employee’s earnings, 150% for salaried employees, and as high as 400% for high-level positions/top performers. The results of this study provide the steps and resources for evaluating the competitiveness of your compensation levels and benefit offerings in attracting and retaining employees.
Business owners and HR managers can use this information to better their organization’s compensation practices and policies. The results of this study can be used to answer key questions such as: