Report: Restaurant salaries, benefits looking brighter
People Report has released the 2013 Corporate Compensation and Benefits Survey, which answered these questions: Are restaurant employees' compensation and benefits package competitive? Do restaurants offer hourly restaurant workers as well as corporate employees fair wages?
More than 140 brands participated from 82 national companies. The survey includes insights from T.G.I. Friday's, Chili's, Ruby Tuesday, The Cheesecake Factory, Panera, Denny's, Domino's Pizza, and White Castle. The survey was released in two separate portions, with the compensation being collected in early 2013, and the benefits portion being finalized now. Results are delivered based on company size for more relevant analysis. The comprehensive survey will be distributed in early September.
Earlier this year, People Report released results from the compensation portion of the 2013 Corporate Compensation and Benefits survey. Following an increase in salaries for 85 percent of corporate employees and 74 percent of restaurant managers in 2012, 2013 results showed salaries for hourly restaurant employees and corporate positions budgeted to increase on average by as much as 2.7 percent
"With so few compensation data sources in our industry, People Report's CCBS is a key data element for us when it comes to benchmarking our compensation policies and practices. Projected merit increase information is especially useful since it's broken down by segment," said Jason Smith, senior compensation analyst at Denny's.
The CCBS survey results to be distributed in September will highlight the substantial importance of good benefit packages, according to People Report. Results will detail plans offered and employee and employer paid costs for health programs as well as information for vacation and paid time off and savings plans. The report will include drilled down information by company size as well as segment.
These results will offer restaurant companies comfort and a competitive advantage in a time with so much ambiguity and uncertainty surrounding the new regulations of the Affordable Care Act, said People Report.
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