January 23, 2004
Council members invited to participate in survey on compensation practices
Business Council members can receive a substantial discount on The Council's annual report on employers' compensation practices if they agree to participate in the survey used to gather the information.
Compdata Surveys of Kansas City, which conducts and compiles the survey for The Business Council, will send questionnaires to employers across New York State in late March. Compdata Surveys, which has done this survey for the last seven years, has the nation's largest database on pay and benefits information.
Only employers that have signed up to participate in the annual pay and benefits survey will receive the questionnaire, said Theresa Worman, director of business development for Compdata Surveys.
Typically more than 500 pages long, the book is a comprehensive report on pay, benefits, and related issues for New York State employers. This year, the book that reports the survey results is expected to be published by the third week in July.
The survey is the largest of its kind in the state. The 2003 report reflected data from hundreds of organizations on more than 450,000 incumbent workers in 472 job titles, ranging from entry-level positions to top executives. Information on pay is broken down by region, number of employees, and industry sector. For all job titles, the sample size is reported.
In addition, the book provides information on benefits practices by industry.
“Our 2003 survey showed the overall voluntary turnover rate in New York is 13.3 percent,” Worman said. “Voluntary turnover is exceedingly costly. If this data helps you retain even one quality employee, the publication will more than pay for itself.”
Compensation Data New York 2004 will be offered to the public at $695. Participating employers can buy the book for $295. Council members that participate get an additional discount and will be able to buy the book for $275, Worman said.
For information on the survey,or to sign up to participate in 2004, call Compdata Surveys at 1-800/300-9570, or visit www.compdatasurveys.com/States/ny.htm to see samples of New York data. Council members may use the promotion code “BCNYS” to receive the $20 member discount.