This week, Workforce Intelligence (formerly People Report) launched the sale of its 2013 Corporate Compensation and Benefits Survey (CCBS). Results of this annual survey answer the key questions: Are restaurant employees’ compensation and benefits package competitive? Do restaurants offer hourly restaurant workers as well as corporate employees fair wages?
“With so few compensation data sources in our industry, Workforce Intelligence (formerly People Report)’s CCBS is a key data element for us when it comes to benchmarking our compensation policies and practices. Projected merit increase information is especially useful since it’s broken down by segment,” says Jason Smith, Senior Compensation Analyst at Denny’s. “Knowing what’s being offered is the first step to creating a competitive reward package. This survey is extremely helpful in that we discover what’s going on and can prioritize our initiatives based on objective data. I’m a big fan and would encourage all my peers to participate in this survey regularly,” added Liz Mayo, Director of Compensation/Data Works at Brinker International.
In this 10th release of the Corporate Compensation and Benefits Survey, over 140 brands participated from 82 national companies. The survey includes insights from T.G.I. Friday’s, Chili’s, Ruby Tuesday, The Cheesecake Factory, Panera, Denny’s, Domino’s Pizza, and White Castle. The survey was released in two separate portions, with the compensation being collected in early 2013 and the benefits portion being finalized now. Results are delivered based on company size for more relevant analysis. The comprehensive survey will be distributed in early September.
Earlier this year, Workforce Intelligence (formerly People Report) released results from the compensation portion of the 2013 Corporate Compensation and Benefits survey. Following an increase in salaries for 85% of corporate employees and 74% of restaurant managers in 2012, 2013 results showed salaries for hourly restaurant employees and corporate positions budgeted to increase on average by as much as 2.7%.
When it came to base pay merit increases for corporate office employees, size mattered in 2013. Large restaurant companies (sales exceeding $500 million) budgeted larger increases for their employees than those budgeted by small (annual sales under $150 million) and medium-sized companies.
The CCBS survey results to be distributed in September will highlight the substantial importance of good benefit packages. Results will detail plans offered and employee and employer paid costs for health programs as well as information for vacation and paid time off and savings plans. The report will include drilled down information by company size as well as segment. These results will offer restaurant companies comfort and a competitive advantage in a time with so much ambiguity and uncertainty surrounding the new regulations of the Affordable Care Act.
The Corporate Compensation and Benefits Survey is available for purchase now with the comprehensive results available in September. Please contact Melissa Papaleo for pricing (melissa.papaleo(at)prbbi(dot)com). Workforce Intelligence (formerly People Report) also offers segmented Corporate Compensation and Benefits, Regional Salary Intelligence and Targeted Competitor Reports that enhance and add value and allow you to fully utilize all data offered.
Workforce Intelligence (formerly People Report) provides service-sector human capital and workforce analytics for its members on a monthly basis. Its sister company, Financial Intelligence (formerly Black Box Intelligence), provides weekly financial and market data for the restaurant industry. Together they report on over 30,000 restaurant units, one million employees and 35 billion dollars in sales. They are also the producers of two leading restaurant industry conferences: Summer Brand Camp and the Global Best Practices Conference, each held annually in Dallas, Texas.