Posts Tagged ‘Compensation and Benefits Conference’

2014 NC Policies & Benefits Survey Reveals Total Rewards Practices of NC Employers

Tuesday, September 9th, 2014

survey dataDuring last month’s Compensation and Benefits Conference, Molly Hegeman, CAI’s Vice President of HR Services, shared information on what NC employers are doing in regard to their total rewards packages. Her presentation included statistics from the 2014 NC Policies & Benefits Survey. The only local survey of its kind shares employers’ answers to 320 questions related to workplace policies and employee benefits practices.

This year’s survey had participation from 384 employers located throughout North Carolina. Forty-four percent of participants are located in the Research Triangle region, 25 percent are in the Charlotte area and 17 percent are located in the Piedmont/Triad region with the remaining participants in the East/Southeast region.

Some key findings from the survey revolving around health and welfare benefits include:

  • Nearly all employers provide medical insurance to their employees. About 78 percent of employers offer a traditional PPO plan, about 27 percent offer a consumer driven HAS plan.
  • Regarding employer contribution to the insurance premium, on average, employers pay 80 percent of the premium for employee only PPO coverage and 55 percent of the premium for family PPO coverage for full-time employees.
  • About 71 percent of employers do not offer domestic partner benefits. In turn, about 18 percent of employers do offer domestic partner benefits regardless of sex of partner. About 11 percent offer benefits with sex restrictions.

The survey also covered time off and results revealed several things, such as:

  • About 72 percent of employers have a PTO policy. On average, employers provide 6 days of PTO upon hire, 13-14 days of PTO after 1 year of service, 15 days of PTO after three years of service, 17-18 days of PTO after 5 years of service and 20-21 days of PTO to employees after 10 years of service.
  • About 68 percent of employers have a formal sick plan that is separate from a PTO policy. On average, employers provide 9 sick days to full-time employees per year.
  • On average, employers provide 9 paid holidays to full-time employees and 5 paid holidays to part-time employees per year.
  • About 9 percent of employers offer a maternity leave policy separate from short-term disability or FMLA.

Pay practices is another subject the survey tackled. Participant responses include:

  • About 61 percent of employers indicated a pay philosophy of paying employees at or above market rate. In turn, 34 percent have no formal pay philosophy.
  • To determine compensation decisions, about 77 percent of employers use external market analyses, about 70 percent use internal job evaluations, about 58 percent use skill or competency-based methods, and 11 percent have no formal method.
  • The most common type of base pay increase employers give is performance based according to up to 83 percent of employers. About 22 percent give an across the board increase, about 17 percent give a cost of living increase, and about 6 percent give some other type of increase.

CAI provides this survey every two years. Other topic areas the survey covers include retirement plans, workplace culture, recruiting and staffing, termination and HR metrics.

The 2014 NC Policies & Benefits Survey can be purchased from CAI’s store here. If you’re interested in participating in next year’s survey, please contact a member of CAI’s survey team at cai-survey-team@capital.org.

 

 

Attract, Retain and Engage: CAI’s 2011 Compensation and Benefits Conference

Thursday, September 22nd, 2011

On August 31 and September 1, CAI invited HR professionals and company executives to attend its annual Compensation and Benefits Conference at the McKimmon Center in Raleigh. More than 180 guests participated in the two-day event. Learning different methods to approaching compensation and benefits and receiving legal updates were top reasons people attended.

“I want to improve my understanding of compensation as it relates to benefits. I want to gain more insight on the topic,” Yolanda Melvin, benefits administrator at PHE, Inc., said when asked why she decided to attend.

conferenceThe late summer conference aimed to help organizations attract, retain and engage their employees by offering innovative strategies to recognize and reward staff in any economic setting. For each of its conferences, CAI strives to provide attendees with speakers who present informative, relevant and captivating content. This year’s speakers ranged from a Lead Consultant in Engagement Assessment and Insight from Aon Hewitt to a Distinguished Professor of Strategy and Entrepreneurship at the UNC Kenan-Flagler Business School.

Conference guests enjoyed five presentations that offered information to plan ahead for a changing workforce, different economy and competitive business climate. Speakers shared their knowledge on re-engaging a mentally and physically exhausted workforce and what rapidly changing demographic trends employers should be preparing for. CAI’s Director of HR services, Molly Hegeman, revealed the results of the company’s 2011 Wage and Salary Survey during the conference. CAI also ensured that attendees received an update on healthcare reform and learned different methods to communicate benefits issues with their workforces.

“I’m always interested in anything that has to do with the healthcare reform because it’s going to impact our company a lot,” Stephanie Moore, human resources representative at DAK Americas, said regarding the presentation she was interested in seeing.

In addition to participating in the main events, attendees had the opportunity to join several of the conference’s breakout sessions. Some of the session topics included:

  • Current Trends in Retirement Plans
  • The New Frontier: Expanding the Paradigm of Organization Well-Being
  • Making Incentive Compensation Work for You
  • Wage and Hour Compliance

CAI works to provide participants with a great experience while educating them on best practices for compensation and benefits.  Professionals who attend the conference get to network with other industry leaders while they analyze research findings, consult on total reward strategies and receive the latest updates on issues that will affect their businesses.

“I always like [CAI’s] conferences. It’s a lot of good information. It’s always relevant. I do a lot of the surveys for CAI, so it’s always interesting to see that the feedback from those surveys is presented in all of their conferences,” Moore said.

For more information on CAI’s annual Compensation and Benefits Conference or help with keeping your workforce engaged, please contact an account manager at 919-878-9222 or 336-669-7746 or visit www.capital.org/compconf.

Economic Recovery, Healthcare Reform and Changing Regulations

Thursday, August 12th, 2010

The three themes of CAI’s upcoming 2010 Compensation and Benefits Conference are economic recovery, healthcare reform and changing regulations.  In the past, the content of this event has focused exclusively on trends and issues regarding the utilization of the complete compensation and benefits package by employers to attract, motivate and retain employees.  This year, because of the massive change that is taking place with healthcare reform, and a constantly shifting regulatory environment, we feel it is important to include those two big categories that are affecting, and will greatly impact in the future, the decisions that organizations are making about compensation and benefits strategies.

Economic Recovery

The rapid recovery from recession that was anticipated does not appear to be in the cards.  Instead, the economy is moving in a generally good direction in fits and starts.  Two pieces of good economic news always seem to be followed by one piece of bad economic news.

Many employers would like to reward the employees who helped them through the last two years but are not yet comfortable enough to make strong decisions on pay raises and benefits packages.  To help employers understand the recent trends and discover how other organizations are handling these challenges, the Compensation and Benefits Conference will feature these sessions:

  • The Road to Recovery: How Are Employers Reacting Post-Recession
  • Hot Off the Presses – 2010 Salary Survey Results
  • Too Much Pressure on the Compensation Package: What About the Rest of the Value Proposition?
  • A Wellness Approach that Works: A Case Study
  • What’s Hot in the World of Retirement Plans?
  • Roundtable Discussion – What Have You Done to Manage Employee Morale?
  • Optimizing the Hierarchy of Pay

Healthcare Reform

If you are trying to determine how healthcare reform will affect your organization, you are likely to be waist deep in government documents, private sector predictions and expert publications.  The healthcare reform focused presentations at the Compensation and Benefits Conference will help you push the clutter to the side and identify the important decision points for your organization and what you’ll need to pay attention to as key dates approach.

Those sessions will include:

  • Got Reform, Now What?  Redefining Your Employee Benefit Strategy
  • What Does Healthcare Reform Mean to Healthcare?
  • What Impact Will Reform Have on Long-Term Medical Costs for Employers in N.C.?
  • Wellness and Reform: What is the New Potential Within Your Organization?
  • What Every HR Professional Needs to Know About the Administrative Reporting Requirements for Healthcare Reform

Changing Regulations

New regulations, methods and rules from federal agencies are outpacing new laws as the primary challenge to employer pay practices.  You can expect the U.S. Department of Labor and other agencies to focus on “employer abuses” and on self-identification by employers in the near future.  Two sessions at the conference will showcase these changes, clarify how they affect your organization and help you prepare to make key decisions:

  • A New Attitude at U.S. Wage and Hour: Are You Ready?
  • Wage and Hour Compliance

CAI’s 2010 Compensation and Benefits Conference will take place on Thursday, Sept. 16 from 8:30 a.m. to 4:45 p.m. and Friday, Sept. 17 from 8:30 a.m. to 11:45 a.m. at the McKimmon Center in Raleigh.  If you are involved in attracting, motivating and retaining employees, or tasked with determining how healthcare reform will affect your organization, you will not want to miss this event.  For more information and to register, go to http://www.capital.org/compconf.

Photo Source: Scott Ableman