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July 18, 2024 Compensation & Benefits Benchmarking

July 18, 2024 10:00 AM - 11:00 AM (CDT)

Description

Are Your Compensation & Benefits Competitive? Earlier this summer the Illinois Manufacturers’ Association launched a comprehensive compensation & benefits survey of manufacturers around the state. 

Join us to learn the results and what your peers have planned to retain and recruit quality employees. Our discussion will explore the survey responses to look at the key variables used by manufacturers to help attract, retain and increase the performance of their workers, as well as the anticipated shifts coming into 2025. 

Our analyses provide detailed wage data and statistics for approximately 180 titles, including jobs at the plant, supervisory, management, executive, and board level. Data was collected on base pay, pay grades, target incentive levels, as well as full benefits plan offerings, including insurance, retirement plans, and paid time off. 

The IMA and the report's authors from Mployer Advisor will share the analyses including: trends unexpected findings and what the data means to your company in this labor market:

•Plans for salary increases and 2025 projections 

•Annual Benefits Report including PTO and remote work alternatives 

•Annual incentives used by manufacturers •Holiday Report and where organizations are making changes 

The full report is available; survey participants receive a copy at no fee. Note, similar to last year, those who completed the survey will also receive an individualized report benchmarking your company's compensation data against aggregated results. Presented by: 

•Brian Freeman, CEO, Mployer Advisor 

•Stephen Pate, Benefits Consultant, Mployer Advisor 

Mployer Advisor works with 1,000’s employers each year and their broker partners to evaluate and rate benefit plan designs to ensure they are competitive and meet management’s goals. Using the nation’s largest, proprietary benefits dataset with over 20K employers nationally, Mployer Advisor ranks each employer’s benefit plan against the market to ascertain areas of strength and weakness across benefits, leave and retirement.

Contact Information

Illinois Manufacturers' Association
Name: Terri Graham
Phone: 630-824-9371
Email: tgraham@ima-net.org
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