Hiring and keeping good employees is essential to the profitability of your business, especially in today’s economy. To achieve that goal, you must consider your overall employee compensation plan—not just your pay scales, but your benefits program as well—in comparison to other firms in distribution.
How does your firm’s employee compensation package stack up in the industry? To help you evaluate your situation, FPDA is co-sponsors the bi-annual Employee Compensation Study conducted by Profit Planning Group. Approximately 2,500 firms in over 35 distribution lines of trade participate.
The value of this survey is threefold:
- The results help you determine where your compensation plan stands not only within the industry but also compared to other companies in distribution.
- The data helps FPDA respond to legislative proposals regarding government-mandated health and leave benefits for employees.
- The information helps companies that must prove their compensation is “reasonable” within the constraints of the Internal Revenue Code.