One of the major challenges facing business owners is in providing a fair and adequate compensation and benefits package for employees. If the package is insufficient, the company cannot attract and keep qualified personnel. If the package is too generous, profit tends to suffer.
Benchmarking is essential for the two key types of employees and requires two different types of analysis.
Executive Compensation – Benchmarking is often national in scope. In attempting to attract a top CFO, for example, the firm may compete with a large number of distribution from across the U.S.
Employee Compensation – In terms of operating employees, the relevant market is always local. Comparisons for truck drivers, warehouse employees and sales representatives in a particular geographic area are much more useful than are national averages.
To help you stay competitive, the 2016 AED Employee Compensation Report contains two volumes – Volume 1 will focus on the data collected for AED distributors as a group. Volume 2 aggregates the results of approximately 2,500 firms in over 35 distribution lines, providing a valuable opportunity to better understand the labor market.
The 2016 AED Employee Compensation Report will:
- Help you determine where your compensation plan stands not only within the industry but also compared to other companies in distribution.
- Help AED respond to legislative proposals regarding government-mandated health and leave benefits for employees.
- Helps companies that must prove their compensation is “reasonable” within the constraints of the Internal Revenue Code.
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