2014 Livingston County Compensation Report & Benefits Survey Presentation
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Transcript of 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
• 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
Overview
General Labor Market Overview andIndustry and Occupational Wage Report
Prepared by:Michigan Department of Technology, Management and BudgetBureau of Labor Market Information and Strategic Initiatives
HOWELL AREA CHAMBEROF COMMERCESEPTEMBER 2014
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.
Area Jobless Rate Falls Steadily since End of Recession, Remains Above 2008 Level
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 *
5.0% 5.4% 5.3% 5.6%6.7%
11.9%12.6%
10.4%9.1%
8.1%7.6%
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
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.
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 201225,000
30,000
35,000
40,000
45,00043,500
36,200
42,500
MDTMB, Bureau of Labor Market Information, Quarterly Census of Employment & Wages (QCEW) program, Livingston County 2012Note: 2013 job totals were available at time of publication but trends in some sectors were artificially high due to data coding issues
Resident Earnings Higher than U.S. and State, Private Industry Wages Steady
United States Census Bureau, American Community Survey, 2013 1-Yr estimatesMDTMB, Bureau of Labor Market Information, Quarterly Census of Employment & Wages (QCEW) program, Livingston County 2013
Area Per Capita Income
Median Household
Income
Livingston County $32,100 $70,700
Michigan - Statewide $25,900 $48,300
United States $28,200 $52,300
2008 2009 2010 2011 2012 2013
$36,835 $36,329
$37,704
$38,774 $38,916 $38,648
Average Annual Industry Wages per Worker
Following modest post-recessionary
gains, total private wages have been
largely stable since 2011.
However, the county remains below
Michigan’s $46,660 average in 2013.
Local Area Payroll Wages by Industry Sector, Share of Total Private 2013
Industry Sector Total Wages in 2013(in thousands)
Average Weekly Wage in 2013
Manufacturing $ 440,230 $ 1,118Retail Trade $ 199,467 $ 502Health Care and Social Assistance $ 184,805 $ 730Professional and Technical Services $175,545 $ 940
Construction $ 135,484 $927
MDTMB, Bureau of Labor Market Information, Quarterly Census of Employment & Wages (QCEW) program, Livingston County 2013Note: Wages for some sectors have been altered from published estimates due to non-economic adjustments in the QCEW data
Manufacturing 25%
Retail Trade 12%
Health Care and Social Assistance
12%
Professional and Technical 9%
Construction 8%
Wholesale Trade 7%
Finance and In-surance
6%
Administrative and Waste
5%
Transportation and Warehousing
4%
Accommodation and Food
4%Other
8%
Total private wages paid in Livingston County totaled over $1.7 billion in 2013.
Notable Sectors Paying Above-Average Annual Wages per Worker Locally, 2013
Wholesale Trade Manufacturing Finance and Insurance
Transportation and Warehous-
ing
Professional and Technical ser-
vices
Construction
$75,108
$58,151 $56,164
$54,416
$48,926 $48,224
Private wages per worker in Livingston County averaged $38,650 annually in 2013.
MDTMB, Bureau of Labor Market Information, Quarterly Census of Employment & Wages (QCEW) program, Livingston County 2013Note: Wages for some sectors have been altered from published estimates due to non-economic adjustments in the QCEW data
Notable Sectors Paying Below-Average Annual Wages per Worker Locally, 2013
Private wages per worker in Livingston County averaged $38,650 annually in 2013.
Health Care and Social Assistance
Administrative Support and
Waste Services
Real Estate and Rental/Leasing
Retail Trade Other Services Accommodation and Food
$37,973
$28,516 $26,627 $26,140
$20,443
$13,207
MDTMB, Bureau of Labor Market Information, Quarterly Census of Employment & Wages (QCEW) program, Livingston County 2013Note: Wages for some sectors have been altered from published estimates due to non-economic adjustments in the QCEW data
Livingston County New Hire Wages by Sector Compared to Average
IndustryAnnual Average
New Hire Wages 2nd Quarter 2013
Annual Average Overall Wages
2013Percent
Difference
Wholesale Trade $38,976 $75,108 93%
Transportation and Warehousing $32,796 $54,416 66%
Health Care and Social Assistance $24,612 $37,973 54%
Retail Trade $18,096 $26,140 44%
Manufacturing $41,352 $58,151 41%
Information $41,112 $56,045 36%
Accommodation and Food Services $10,116 $13,207 31%
Construction $38,088 $48,224 27%
Administrative Support & Waste Services $23,064 $28,516 24%
Arts, Entertainment, and Recreation $14,580 $18,105 24%
Finance and Insurance $48,420 $56,164 16%
Professional, Scientific & Technical Services $44,508 $48,926 10%
Source: U.S. Census Bureau, Local Employment DynamicsMDTMB, Bureau of Labor Market Information, Quarterly Census of Employment & Wages (QCEW) program, Livingston County 2013Note: Wages for some sectors have been altered from published estimates due to non-economic adjustments in the QCEW data
Wage Differences by GenderRemain Apparent in Livingston County
New Hires (2rd Q 2013) Total Private (2nd Q 2013)$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$20,052
$31,092$31,800
$52,728 FemalesMales
Source: U.S. Census Bureau, Local Employment Dynamics
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.
Incentive
Time
Part Time
Full Time
$33.35
$23.25
$13.76
$25.69
Average Hourly Pay, 2010*
Other Wage Characteristics of the Region (Continued)
• 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.
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 Non-Union 99 Workers or Less
100 to 499 Workers
500 Workers or More
$27.99
$22.39$19.30 $21.16
$31.78
Average Hourly Pay by Business Size
Average Hourly Pay by Union Classification
Median Hourly Wages for Selected Occupations in the Area, 2013
Retail Salespersons
Team Assemblers
Customer Service Reps
Bookkeeping and Accounting Clerks
Heavy Truck Drivers
Machinists
Computer Support Specialists
Wholesale Sales Reps
Accountants and Auditors
Registered Nurses
Mechanical Engineers
$10.13
$14.87
$14.65
$17.54
$19.00
$19.42
$20.66
$26.30
$31.06
$33.33
$43.26
Median Hourly Wage
The median wage for all occupations in the region was $17.38 in 2013, un-changed from 2012.
Source: MDTMB, Bureau of Labor Market Information, Occupational Employment Statistics (OES) program, May 2013
Entry-Level and Top Pay Ranges for Selected Occupations, 2013
Source: MDTMB, Bureau of Labor Market Information, Occupational Employment Statistics (OES) program, May 2013
Occupation Median Wage
Entry-Level Wage
(Lower Bound)
Entry-Level Wage
(Upper Bound)
Top-Level Wage
(Lower Bound)
Top-Level Wage
(Upper Bound)
Accountants and Auditors $31.06 $19.19 $23.51 $39.94 $52.96
Computer Support Specialists $20.66 $12.97 $16.32 $27.11 $35.12
Mechanical Engineers $43.26 $29.71 $36.29 $52.01 $58.15
Registered Nurses $33.33 $24.80 $29.23 $38.16 $44.54
Occupation Median Wage
Entry-Level Wage
(Lower Bound)
Entry-Level Wage
(Upper Bound)
Top-Level Wage
(Lower Bound)
Top-Level Wage
(Upper Bound)
Retail Salespersons $10.13 $8.03 $8.69 $13.27 $19.16
Wholesale Sales Reps $26.30 $12.22 $18.06 $39.05 $56.46
Retail Supervisors $18.11 $11.35 $14.08 $23.99 $31.62
Professional and Healthcare
Sales and Related
Entry-Level and Top Pay Ranges for Selected Occupations, 2013
Source: MDTMB, Bureau of Labor Market Information, Occupational Employment Statistics (OES) program, May 2013
Office and Administrative
Production and Transportation
Occupation Median Wage
Entry-Level Wage
(Lower Bound)
Entry-Level Wage
(Upper Bound)
Top-Level Wage
(Lower Bound)
Top-Level Wage
(Upper Bound)
Bookkeeping /Accounting Clerks $17.54 $10.70 $13.96 $21.65 $26.46
Customer Service Reps $14.65 $9.07 $11.29 $18.64 $23.57
Receptionists/Information Clerks $12.66 $8.71 $10.23 $15.31 $18.42
Occupation Median Wage
Entry-Level Wage
(Lower Bound)
Entry-Level Wage
(Upper Bound)
Top-Level Wage
(Lower Bound)
Top-Level Wage
(Upper Bound)
Team Assemblers $14.87 $8.98 $10.67 $18.62 $26.59
Machinists $19.42 $11.56 $15.14 $25.34 $31.48
Heavy Truck Drivers $19.00 $12.91 $15.45 $22.07 $25.95
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
2014 Livingston County Compensation Report & Benefits
Survey Presentation
Howell Chamber of Commerce Wednesday, September 24, 2014
65 Total Survey Participants in 2014
• Employers and Employees more focused on career path and professional development than ever before
Now (still) Hiring!
Reduced
No Change
Expanded Employee Count
0% 10% 20% 30% 40% 50% 60% 70%
4%
31%
65%
Last 12 Months
Last 12 Months
• 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!
Employers View of Important Retention Factors
Responses Response %Compensation (salary/pay) 32 59%Benefits 21 39%Work/Life balance 19 35%Company Culture 18 33%Training & Development 6 11%Other 3 6%
• 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)
Benefit Changes in 2014
Other
None
Increased medical plan options
Eliminated dental or vision coverage
Eliminated medical coverage completely
Decreased medical plan options
Increased EE premium contribution
Increased Deductibles
0 5 10 15 20 25 30
8
27
11
1
1
6
18
10
Benefit Plan Changes in 2014
Increased EE Contributions
Key Benefit Related Statistics• 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
Ideas Worth Sharing?• 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?
Resources• www.kff.org• www.payscale.com• www.monster.com• www.careerbuilder.com• ww.metlife.com/business/insights-an
d-tools/index.html• www.shrm.org• www.mercer.us• www.worldatwork.org
Questions or Comments?
Thank you!
Steve Williamswww.ectohr.com
810.534.0170 office [email protected]