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2014 Livingston County Compensation Report & Benefits Survey Presentation

2014 Livingston County Compensation Report & Benefits Survey Presentation. Howell Area Chamber of Commerce Wednesday, September 24, 2014 . Overview. Introduction Disclaimers (not legal advice, not a CPA, not HCOC, not insurance rep, but an HR Pro)

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2014 Livingston County Compensation Report & Benefits Survey Presentation

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  1. 2014 Livingston County Compensation Report & Benefits Survey Presentation Howell Area Chamber of Commerce Wednesday, September 24, 2014

  2. Overview Introduction Disclaimers(not legal advice, not a CPA, not HCOC, not insurance rep, but an HR Pro) Labor Market Information & Strategic Initiatives (LMISI) Highlights of survey results & Take-Aways Group discussion

  3. General Labor Market Overview and Industry and Occupational Wage Report Prepared by: Michigan Department of Technology, Management and Budget Bureau of Labor Market Information and Strategic Initiatives Howell Area Chamberof CommerceSeptember 2014

  4. About Us Bureau of Labor Market Information and Strategic Initiatives (LMISI), part of the Department of Technology, Management and Budget Responsible for producing and publishing the “official” labor force statistics for the Michigan and regional areas throughout the state LMISI collects, compiles, analyzes and publishes information on employment, unemployment, industries, occupations, wages, demographics, etc.

  5. Area Jobless Rate Falls Steadily since End of Recession, Remains Above 2008 Level • Number of unemployed down almost seven percent since 2013, and nearly half the level it registered in 2010 • About 6,900 unemployed residents in 2014 year-to-date, down from 11,300 in 2010. However, the number of unemployed remains above the 2008 level. MDTMB, Bureau of Labor Market Information, Local Area Unemployment Statistics Program (LAUS) * Indicates year-to-date average through July 2014

  6. Total Private Payroll Jobs Continue to Rebound from Recessionary Losses • Total private payroll jobs had risen for three consecutive years since hitting a recent low of 36,200 in 2009. • Much of the recent job growth is attributable to Retail Trade, Manufacturing, Professional and Business Services, and Transportation and Warehousing. MDTMB, Bureau of Labor Market Information, Quarterly Census of Employment & Wages (QCEW) program, Livingston County 2012 Note: 2013 job totals were available at time of publication but trends in some sectors were artificially high due to data coding issues

  7. Resident Earnings Higher than U.S. and State, Private Industry Wages Steady United States Census Bureau, American Community Survey, 2013 1-Yr estimates MDTMB, Bureau of Labor Market Information, Quarterly Census of Employment & Wages (QCEW) program, Livingston County 2013

  8. Local Area Payroll Wages by Industry Sector, Share of Total Private 2013 Total private wages paid in Livingston County totaled over $1.7 billion in 2013. MDTMB, Bureau of Labor Market Information, Quarterly Census of Employment & Wages (QCEW) program, Livingston County 2013 Note: Wages for some sectors have been altered from published estimates due to non-economic adjustments in the QCEW data

  9. Notable Sectors Paying Above-Average Annual Wages per Worker Locally, 2013 Private wages per worker in Livingston County averaged $38,650annually in 2013. MDTMB, Bureau of Labor Market Information, Quarterly Census of Employment & Wages (QCEW) program, Livingston County 2013 Note: Wages for some sectors have been altered from published estimates due to non-economic adjustments in the QCEW data

  10. Notable Sectors Paying Below-AverageAnnual Wages per Worker Locally, 2013 Private wages per worker in Livingston County averaged $38,650annually in 2013. MDTMB, Bureau of Labor Market Information, Quarterly Census of Employment & Wages (QCEW) program, Livingston County 2013 Note: Wages for some sectors have been altered from published estimates due to non-economic adjustments in the QCEW data

  11. Livingston County New Hire Wages by Sector Compared to Average Source: U.S. Census Bureau, Local Employment Dynamics MDTMB, Bureau of Labor Market Information, Quarterly Census of Employment & Wages (QCEW) program, Livingston County 2013 Note: Wages for some sectors have been altered from published estimates due to non-economic adjustments in the QCEW data

  12. Wage Differences by GenderRemain Apparent in Livingston County Source: U.S. Census Bureau, Local Employment Dynamics

  13. Other Wage Characteristics of the Region Source: Bureau of Labor Statistics, National Compensation Survey , March 2010, Detroit CMSA (includes Livingston County) * Data from this survey has yet to be updated since the 2012 Livingston County report, but is included here as a point of reference due to the unavailability of similar wage measures in other BLS data sources. • Full-time workers are making almost twice the hourly wage as part timers, while working twice as many weekly hours. • Workers who earn based on incentive pay make 43 percent more per hour, while working the same number of hours per week, on average.

  14. Other Wage Characteristics of the Region (Continued) Source: Bureau of Labor Statistics, National Compensation Survey , March 2010, Detroit CMSA (includes Livingston County) * Data from this survey has yet to be updated since the 2012 Livingston County report, but is included here as a point of reference due to the unavailability of similar wage measures in other BLS data sources. Union workers earned 25 percent more per hour than non-union workers locally while averaging 3 more hours worked per week. Small businesses paid workers on par with medium-sized firms, though large companies paid employees over $10 more per hour, on average.

  15. Median Hourly Wages for Selected Occupations in the Area, 2013 Source: MDTMB, Bureau of Labor Market Information, Occupational Employment Statistics (OES) program, May 2013

  16. Entry-Level and Top Pay Ranges for Selected Occupations, 2013 Professional and Healthcare Sales and Related Source: MDTMB, Bureau of Labor Market Information, Occupational Employment Statistics (OES) program, May 2013

  17. Entry-Level and Top Pay Ranges for Selected Occupations, 2013 Office and Administrative Production and Transportation Source: MDTMB, Bureau of Labor Market Information, Occupational Employment Statistics (OES) program, May 2013

  18. For more information, visit our website at: http://www.milmi.org or call our main office at: (313) 456-3090 Contact Us Michigan Department of Technology, Management and Budget Bureau of Labor Market Information and Strategic Initiatives

  19. 2014 Livingston County Compensation Report & Benefits Survey Presentation Howell Chamber of Commerce Wednesday, September 24, 2014

  20. 65 Total Survey Participants in 2014

  21. Employers and Employees more focused on career path and professional development than ever before

  22. Now (still) Hiring! • In 2012, less than 45% planned to increase head count • Since 2009, there’s been a 65% increase in the time it takes to fill a job!

  23. ResponsesResponse % Compensation (salary/pay) 3259% Benefits 21 39% Work/Life balance 19 35% Company Culture 18 33% Training & Development611% Other 36% Employers View of Important Retention Factors

  24. Average EE contribution single coverage is 18% ; $90/month or $1085/annually (LivCo average EE contribution is slightly higher) • Average EE contribution for family coverage is 28%; $402/month or $4,823/month (as a %, LivCo EE contributions are higher)

  25. Benefit Changes in 2014

  26. Increased EE Contributions

  27. Avg Deductible in 2014 = $1,217 ($584 in 2006) • Enhancements to PTO plans • Health Reform Projections • Creative funding strategies • Low cost but high impact plans • Education and engagement • Financial wellness • Benefit Committees Key Benefit Related Statistics

  28. Wellness Programs • Enhancements to PTO plans • Part-Time Benefits and utilization of P/T folks • Domestic Partner Benefits (9 or 14%) • Expanded Maternity Leave? • Formal Paternity Plan/Benefit? • Change in approach to medical marijuana • Other? Ideas Worth Sharing?

  29. Resources www.kff.org www.payscale.com www.monster.com www.careerbuilder.com ww.metlife.com/business/insights-and-tools/index.html www.shrm.org www.mercer.us www.worldatwork.org

  30. Questions or Comments?Thank you! Steve Williams www.ectohr.com 810.534.0170 office steve@ectohr.com

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