BEDFORD, Ind. (July 22, 2022) – Radius Indiana will conduct the region’s third biennial wages and benefits survey starting in August, an opportunity that will be open to companies across Radius’s eight county region. The survey provides regional companies with relevant data to provide a better understanding of the local labor market regarding wages and benefits. The 2022 survey follows two previous surveys in 2018 and 2020.
The survey analyzes a total of 63 possible employment positions, including wages of hourly and salaried employees, and 35 benefit categories, including data about benefits packages and policies, health care costs paid by employers and employees, retirement benefits, training, vacation, and other employment perks.
“The Radius biennial regional wages and benefits survey is important information for local businesses and industries. They are interested to know if the wages and benefits they offer are competitive enough to attract and retain employees,” said Ed Cole, president of Dubois Strong, the county’s economic development organization.
One of the goals of this year’s survey is to increase regional business participation to provide even more data specific to the companies and workers in the Radius region.
The survey’s information not only reveals the wages paid by employers in the Radius region; it also compares those wages to state and national benchmarks.
For example, the 2020 survey indicated that construction laborers earned a salary of $41,607, 2.91 percent below the national average.
“The wage and benefits survey benefits our local workforce and also informs prospective new businesses who are considering growing in our region,” said Bryant Niehoff, Executive Director of the Daviess County Economic Development Corporation. “It’s a critical tool in understanding our workforce needs, all part of a greater workforce challenge.” Niehoff recently shared the 2020 survey findings with a prospective new employer as a way to satisfy the company’s curiosity about the wages expected by local workers.
The South Bend Regional Chamber also surveys their region’s labor shed, consisting of Elkhart, Fulton, LaGrange, LaPorte, Marshall, and St. Joseph counties in northern Indiana to provide insight and analysis of their region’s growth and economic factors. Surveyed participants include some of the area’s leading employers engaged in manufacturing, healthcare, logistics, financial, education, and other industries.
“The South Bend – Elkhart Regional Wages and Benefits Survey and Report is a highly valuable tool that has helped our company in understanding not only the big picture, but a detailed look at trends on compensation and benefits in the region,” comments FDC Graphic Films, Inc. Chief Financial Officer, Tammie Nelson. “The report allows our company to gain insights and a competitive analysis as we make important decisions.”
Companies in the Radius region must participate in the 2022 survey in order to receive the complete report on the wages and benefits paid in the region. Participation is highly encouraged to provide companies in the Radius region with the essential tools and information to maximize the efficiency of their wage scales. Regional companies are encouraged to contact Christy Johnson, Radius staff at [email protected] to become part of the initiative, or to use this link to sign up to participate.