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Business Trend Survey by Employers Association Shows Distinctions for Northeast Region

LINCOLN, RI – With close to 900 members concentrated in Massachusetts, Rhode Island, and Connecticut, The Employers Association of the Northeast today unveiled the findings of the 2016 National Business Trends Survey conducted by the Employer Association of America.

Results from this comprehensive survey of 1,242 organizations, covering 2,814 employer locations and 45 U.S. states, indicates that the majority of executives surveyed remain optimistic for 2016, are confident they will award pay increases, will provide a heightened emphasis of recruiting, and plan to increase training budgets to focus on developing their existing employees.

“Here in the Northeast, we certainly understand that regulatory compliance is a concern and we are heartened to see more companies looking to increase staff,” stated Meredith Wise, President of the Employers Association of the Northeast. “We are also encouraged by the commitment of businesses in the Northeast to technology, processes, and people.

The top three distinctions for the Northeast from the findings appear to be:

  1. Regulatory compliance is a bigger concern

In comparison to the national average, companies in the Northeast view the cost of regulatory compliance as a greater challenge, both in the short term and long term. The data shows 32% of the Northeast regional responses expressing concern in the short term vs. 27% of the national responses. On a long-term basis, 42% of Northeast regional responses see regulatory compliance as a serious challenge, whereas nationally the average checks in at 34%.

  1. There is a greater commitment to invest in technology, processes, and people.

There appears to be a greater consensus on the part of Northeastern businesses to invest in technology equipment, lean, and other process improvements, as well as invest in training. All measures were responded to more favorably and at a higher rate than in comparison to the national norms. Overall 70% of executives surveyed in the Northeast said they would be making investments in people, facilities, and/or equipment in 2016 vs. only 62% nationally.

  1. More companies are looking to add staff.

While the majority of surveyed executives indicated that they would be increasing staff in 2016, a greater percentage of Northeastern executives – 59% plan on adding staff compared to the national norm of 52%.

For over 100 years, the Employers Association of the Northeast has provided resources for organizations to maximize employee engagement and retention while minimizing risk.

EANE Announces Findings from 2015-2016 Tri-State Salary & Budget Survey: Actual and Projected Pay Increases Holding Steady

AGAWAM, MA — The Employers Association of the NorthEast announced today its findings from the 2015-2016 Salary & Budget Survey, with close to 100 companies participating from Massachusetts, Connecticut and Rhode Island.

 

The survey results included numerous break-out reports to meet employers’ diverse data requirements for compensation planning including salary and pay increases based on industry segment, job category and more.  The survey addressed salary increases for the period July 2014 to June 2015 and also forecasted salary changes for the period July 2015 to June 2016.

 

Overall, manufacturing employers participating in the survey indicated employees received an average of 2.7% increase for 2014/2015, while our non-manufacturing participants averaged a 3.0% increase. Both categories are holding steady with the forecast for pay raises. Our manufacturing participants projected an overall 2.8% increase for 2016, while our non-manufacturing group forecasted a 2.6% increase, on average. (Note: Factored into the data are companies that reported there would be no increase or decrease).

 

“Given the multitude of other factors competing for funds — from healthcare and other benefit costs to capital investments– it is not surprising to see limited increases,” said Mark Adams, Director of HR Solutions for the Employers Association of the NorthEast. “That said, we know that employers want to give raises to keep top talent.”

 

EANE has created a full summary of results on its website. Access summary here.

Serving employers in the Northeast for over 100 years, EANE provides resources for organizations to maximize employee engagement and retention while minimizing risk.  Over 900 members utilize the HR hotline, learning and development offerings and specialized HR services. Our annual round-up of benchmark surveys that take place throughout the year address wage and salary, executive compensation, workplace policies, budgets and more … all covering a variety of industries that represent our member companies.   www.eane.org

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