The Real Results - Compensation Trends Survey

JUST IN: The results are in for MRA’s 2022 Compensation Trends Survey, and expert Mike Kopczynski is here to give you answers! Does your organization need to re-think it’s compensation strategy? We’ll cover pay increase, compensation strategy, talent shortage, total rewards, and more.

Listen to Discover:

1. With the dynamic environment of the last two years, more and more companies are investing in a compensation strategy. What should be included in the strategy?
2. How employers can differentiate themselves and adapt quickly to the intense competition for labor
3. What makes MRA’s Compensation Trends Survey stand out – learn how we stay in tune with the current business trends

Bios:

Mike Kopczynski, Custom Surveys and Business Research Lead

Let's Connect:

Mike's LinkedIn Profile

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;03 - 00;00;23;03

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;17 - 00;00;55;14

Well, I'm excited to continue the Compensation Trends Survey series and really move into more of the results of the survey. So last week, Brittany went into the ins and outs of the production of the survey. But this week I'm joined with Mike Kopczynski, Customer Surveys and Business Research Lead here at MRA. And Mike has over 20 years of leading research teams and really plays a key role in the production of MRA surveys, which is awesome.

Sophie Boler | 00;00;55;27 - 00;01;11;09

And you actually just spoke at the Comp Trends event last week, which was great, and I know that went well, but really this week we want to go into the results of the survey. So welcome to the show, Mike. How are you doing today?

Mike Kopczynski | 00;01;11;10 - 00;01;25;08

Great, Sophie, thank you and yeah, thank you for having me on board. Last week was pretty intense. Yeah, it was fun to express the results. Inform members, obviously, of this year's challenges of this year's findings.

Sophie Boler | 00;01;25;09 - 00;01;25;29

Absolutely.

Mike Kopczynski | 00;01;26;09 - 00;01;26;25

Thanks for having me.

Sophie Boler | 00;01;26;29 - 00;01;40;13

For sure. Well, really, just want to start out by asking the main question that's on employer's minds right now, and that is what percent pay increase can employers expect based on the survey results?

Mike Kopczynski | 00;01;40;22 - 00;02;06;03

Yeah, it is typically asked in our survey, and one of the questions that we historically trendd is payment merit increases. And as you alluded to, 4.0% is this year's number. It's the highest incremental increase that we saw in 15 years as we've tracked the survey and many companies are using that to pin their number based on their merit increases on top of base pay.

Mike Kopczynski | 00;02;06;11 - 00;02;08;07

So 4.0% this year.

Sophie Boler | 00;02;08;21 - 00;02;28;24

And 4%, it's a lot. I mean, considering that past years have been 3%, but we've even heard this upcoming year that some companies are going as far as 4.7%, which is huge. So how can an employer really ...