Wage & Benefits Survey
The Chamber conducts an annual Wage & Benefit Survey for its membership each spring. The survey helps local employers gauge their compensation and benefit data against other companies in our region. The survey data is valuable to companies to use as a pricing tool for bidding contracts, and, most importantly, as a human resources guide for benchmarking wage and benefit rates. General information about the survey, webinar recordings, user guide/help documents, and contact information can be found here.
Overview
The Huntsville/Madison County Chamber offers online access to the Wage & Benefit Survey at a discounted cost to participants. The online survey data results can be filtered by participating companies and reported further. Please contact Lyndsay Ferguson to obtain the most recent Wage & Benefit Survey Report.
A few important things to note:
- The Wage & Benefit Survey administered by Horizon Point, is open for participation each spring, with the final report available in early summer.
- In abiding by antitrust guidelines issued by the U.S. Department of Justice and the Federal Trade Commission, a minimum of five (5) employers are required to respond for each data point in order for the results to be published.
- The privacy of company compensation and benefit information remains of paramount importance to the Chamber and Horizon Point. The Wage & Benefit Survey abides by the antitrust guidelines issued by the U.S. Department of Justice and the Federal Trade Commission, therefore, data will be reported in compliance with all federal regulations and in a way that ensures privacy for each company.
- To participate in the 2023 Wage & Benefit Survey, please email Lyndsay Ferguson
Cost
The cost to obtain online access to the most recent (2022) Wage & Benefit Survey Data final report (including government contractor and manufacturing cut) for participating Chamber companies is $250 + tax. The cost for the pdf copy is $550 + tax for non-participant Chamber members. Contact Lyndsay Ferguson to obtain a copy of the 2022 report.
Details
Cullman, Lawrence, Limestone, Madison, and Morgan Counties
Horizon Point Consulting is partnering with the Cullman Economic Development Agency, Lawrence County Industrial Development Board, Limestone County Economic Development Association, Huntsville/Madison County Chamber, Morgan County Economic Development Association, and North Alabama Society for Human Resource Management to collect and report wage and benefit data for industries in the region. The annual survey opens for participation each spring, with the final report available in early summer.
Why Participate?
More than 150 companies in the region participate in the survey. By participating, each company receives a comprehensive report of wage data across industries in the region. This report helps companies make informed, strategic decisions about compensation and benefits for Executive, Management, Production, Administrative, and other occupational groups in order to remain competitive and retain top talent.
What Information Will We Be Asked to Provide?
Participants will be asked to provide demographic information, company and HR data, general pay practices, and compensation data by job title. Identifying company information will be protected and will not be visible to other participants.
The survey will also have questions about benefits. Categories include, but are not limited to:
- Medical, Dental, and Vision Coverage
- Life Insurance
- Retirement Plans
- PTO/Leave Policies
For employers that participated in 2022, previous information is saved so only changes need to be reported in subsequent years.
To help participants prepare data, a complete list of questions is made available as a Microsoft Excel Workbook.
Survey Administration
The survey will be hosted on the Sensible Surveys platform, to be administered by the Horizon Point team. Sensible Surveys is user-friendly and intuitive, allows users to save progress and return later, and produces interactive, exportable reports for users once the survey results have been compiled.
Each company will have one Sensible Surveys account tied to the email address of the primary user. If needed, the primary user can share login credentials with colleagues to enter data under the same unique user account. This protects user and company privacy by having a singular access point.
Questions about the survey should be directed to Jillian Miles at jdm@horizonpointconsulting.com.
How Do I Participate?
Companies that participated in 2022 will be automatically registered for the 2023 survey. If your company has not previously participated and would like to participate in 2023, please email Lyndsay Ferguson. The primary user for each company will receive an email from Sensible Surveys to log in and set up their account when the survey launches in the spring.
