FMS’s report provides unique insights to understanding and comparing compensation programs by store size and region
[Fort Lauderdale, Florida, June 11, 2019] Today, FMS released a brand-new benchmarking study highlighting wages and bonus structures in the US, both by store size and region. The report aims to help independent retailers observe salaries and benefits in areas around the country to remain competitive in recruiting and retaining staff members.
According to Robert Graybill’s, CEO and President of FMS Solutions, “with record low unemployment and wages starting to accelerate, the quest for talent is heating up.” The smaller applicant pool is putting pressure on hiring and retention, which appears to be causing upward pressure on salaries, hourly wages, and bonus payouts. Graybill assured that this survey is an excellent tool to provide independent retailers because it provides them with insights on the current economic environment. In his words, “hiring and retention are two critical factors today for any business.”
The 2019 Compensation and Benefits Survey Report summarizes operational findings for 156 food retailing companies and more than 5,000 stores, offering a detailed look at pay ranges and offered benefits.
Key findings include:
- Breaks down median and average wages, along with 25th and75th percentiles for each position
- Health plan participation eligibility
- Retirement plan types offered
- Management incentive plans
- Average base salary increases from 2017 to 2018
Individuals or companies can purchase a print copy of the report: