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PayScale's 2012 Compensation Best Practices

PayScale's 2012 COMPENSATION Best Practices Report The PayScale Market Pricing Practices Survey asks employers about their current compensation practices and any planned changes. The following summarizes results from 2011, and compares them to 2010 with a split by company size and industry. COMPANY SIZES SURVEYED: SMALL: < 100 MEDIUM: 100-1000 LARGE: > 1000 WHO'S GROWING? of employers in information, media & telecommunications 57% 43% hired new talent in 2011 Reserved of employers in food of medium-sized companies hired new employees in 2011 45% services & accommodation layed off employees in 2011 RETURN 44% RÄISES! THE OF More than 60% WHERE HAVE YOU BEEN?! of employers increased pay ranges by 1 - 5% 19% of employers adjusted their salary structure in the last 12 months, up significantly from ~30% in 2010 of employers increased pay ranges by 6% or more WHO DECIDES COMPENSATION? 54% 55% OF EMPLOYERS OF EMPLOYERS SAY THE CEO SAY HR DECIDES HOW IT IS SPENT DECIDES THE BUDGET PERFORMANCE MATTERS MOST 69% * * NEWS FLASH: 83% of information, media & telecommunications employers emphasize incentive pay HOT INDUSTRY: HEALTHCARE name performance-based pay increases as the main reason companies adjusted pay regardless of company size 47% of healthcare employers conduct market and compensation analyses continuously, throughout the year THE TALENT WARS TELL HER I HAVE SOMETHING TO MAKE THAT MORNING COMMUTE A LITTLE EASIER! DID HE WORK FOR AMAZON, OR IN THE AMAZON? Retaining Top Employees 54% of employers name retaining top employees as their top concern Attracting New Talent 16% of employers name attracting new talent as their top concern REASONS FOR LEAVING A JOB WHO'S COMING WITH ME? 2009 POOR PERFORMANCE 2111| PERSONAL REASONS ( CHANGES IN FAMILY, MARRIAGE, HEALTH, ETC. ) 2011 SEEKING HIGHER PAY ELSEWHERE SOCIAL MEDIA IN THE WORKPLACE 38% of employers ban all use of social media 59% 13% of healthcare employers ban all use of social media of information, media, 14% & telecommunications encouraged the use of social media at work of financial services employers ban all use of social media 43% OF EMPLOYERS USE SOCIAL MEDIA FOR RECRUITING Linked in facebook twitter BranchOut 88% 46% 22% 3% 2012 OUTLOOK: What's to Come? INDUSTRIES EXPECTING FINANCIAL GROWTH 80% 78% 77% OF BUSINESS OF RETAIL EMPLOYERS OF INFORMATION, MEDIA & SUPPORT SERVICES TELECOMMUNICATIONS EMPLOYERS EMPLOYERS HOLDING STEADY About 2/3 of employers think their company's financial performance will improve in 2012 In 2012, over 93% of employers plan to give compensation adjustments to their workforce. 41% of those employers plan to give compensation adjustments to more than half of their workforce. >50% of companies plan to reward and retain high-performing employees through a merit-based pay plan Sources: http://www.payscale.com/pro See the methodology: http://www.payscale.com/hr/2012-compensation-practices-infographic Download the full report: http://www.payscale.com/hr/compensation-practices-survey :.:: PayScale by number of employees

PayScale's 2012 Compensation Best Practices

shared by PayScale on Feb 28
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Each year, PayScale surveys thousands of HR and business leaders to learn about the workforce and compensation trends they've experienced in the previous year, and to see how those trends have inf...

Publisher

Pay Scale

Category

Economy
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