Behind the Scenes of MRA’s Compensation Trends Survey with Brittany Rittershaus

Get a behind-the-scenes look at the making of MRA's Compensation Trends Survey. We asked the important questions to give you the answers you need. We'll talk about changing compensation, talent shortage, inflation, and give you a sneak peek at this year's Compensation Trends Survey!

Listen to Discover:

1. What makes this compensation survey most useful for business leaders--learn about aged data
2. How to use data for merit increases with or without Zeros
3. What changes are being made to accommodate today's talent shortage

Bios:

Brittany Rittershaus, Survey & Graphics Specialist

Resources:

Are you an MRA member that participated in this year's Compensation Trends Survey?

The report can be viewed on the MRA Website through the user dashboard. If you participated in the report, simply log in to the website, head over to your user dashboard, and locate surveys on the grey bar! From there you will see your report under “View Survey Reports”.

Are you an MRA member but did not have a chance to participate in this year's Compensation Trends Survey?

The full report can be purchased for $545, with applicable sales tax. To do so, login to the website, head on over to your dashboard and locate surveys on the grey bar. Click on it and it will take you to the survey page, scroll down to Purchase Survey Results and follow the steps on screen for the report you wish to purchase.

Not a MRA member yet?

Access our executive summary This is a small portion of the survey that includes key information from MRA's Compensation Trends Survey.

Transcript:

INTRO | 00;00;00;02 - 00;00;23;04

Hello, hello, everybody and welcome to 30 minute THRIVE, your go-to podcast for anything and everything HR, powered by MRA, The Management Association. Looking to stay on top of the ever-changing world of HR? MRA has got you covered. We’ll be the first to tell you what’s hot and what’s not. I’m your host, Sophie Boler, and we are so glad you’re here. Now it’s time to THRIVE.

Sophie Boler | 00;00;23;16 - 00;00;55;17

Hello, everybody, and welcome back to 30 minute THRIVE. Our episode today is part of our three-part compensation trends miniseries. As companies are attempting to find the perfect formula for recruiting and retention, compensation is the key. MRA’s Compensation Trends Survey is designed to guide organizations on topics such as economic and business outlook, pay increases, pay structures, and pay transparency.

Sophie Boler | 00;00;56;06 - 00;01;25;08

Today, I’m sitting down with Brittany Rittershaus to get a behind-the-scenes look at the making of this year’s Compensation Trends Survey. Brittany is the surveys and graphics specialist at MRA. She writes, produces, and designs the final survey reports and is one of the leads on MRA’s Hot Topics surveys. Brittany helps by producing the questionnaire and writing and designing the reports to ensure they are timely and relevant.

Sophie Boler | 00;01;27;02 - 00;01;30;19

Hello and welcome to 30 minute THRIVE, Brittany. It’s great to have you on.

Brittany Rittershaus | 00;01;30;22 - 00;01;32;26

It’s great to be here. Thanks for having me.

Sophie Boler | 00;01;33;03 - 00;01;55;26

Sure. I’m excited to hear the inside scoop on the latest Compensation Trends Survey for MRA. So MRA surveys are really here to provide insights to help companies compete and stay informed on business trends, and the Compensation Trends Survey is one of the most popular ones we do. So, what makes the Compensation Trends Survey so popular?

Brittany Rittershaus | 00;01;56;16 - 00;02;26;25

I think what drives this survey and makes it so popular for organizations is what we ask in the survey. We are constantly making sure we have the correct trends that occur within compensation and any changes that might occur. We really want to help organizations remain competitive, and this survey really does help them remain competitive because it has information that they need for their compensation strategies.

Sophie Boler | 00;02;27;03 - 00;02;30;11

So can you dive in a bit deeper into what this report looks like?

Brittany Rittershaus | 00;02;30;29 - 00;02;58;29

Yes. So, we do have over 40 questions that we asked in this survey, all focused on various compensation trends, questions. We also had 749 organizations participate and they reported on over 2,000 divisions or locations across the U.S. We also break out the data into various sections. We have an overall, which includes all the data no matter what state that they reported their data for.

Brittany Rittershaus | 00;02;59;13 - 00;03;07;26

We also break it out in Illinois, Iowa, Minnesota, and Wi...