EANE Announces Findings from Salary & Budget Survey

AGAWAM — The Employers Assoc. 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{06cf2b9696b159f874511d23dbc893eb1ac83014175ed30550cfff22781411e5} increase for 2014/2015, while our
non-manufacturing participants averaged a 3.0{06cf2b9696b159f874511d23dbc893eb1ac83014175ed30550cfff22781411e5} increase. Both categories
are holding steady with the forecast for pay raises. Manufacturing
participants projected an overall 2.8{06cf2b9696b159f874511d23dbc893eb1ac83014175ed30550cfff22781411e5} increase for 2016, while the non-
manufacturing group forecasted a 2.6{06cf2b9696b159f874511d23dbc893eb1ac83014175ed30550cfff22781411e5} 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: www.eane.org.