During 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 firstname.lastname@example.org.