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EctoHR, Inc., and The Howell Area Chamber of Commerce Foundation, presented the 2014 Livingston County Compensation and Benefits Trends Survey results on September 24 to Livingston County company owners and representatives. The survey contained good news about local trends and growth in employment.
Of all the survey participants, 65 percent have expanded their employee count in 2014. Companies continue to hire!
Steve Williams, President of EctoHR, emphasized that employers can expect a few hurdles in the upcoming year. The survey results can help owners in building and preparing their businesses for the current and future employment market.
The Affordable Care Act, looked upon as a great unknown by many, did create additional paperwork for employers, but has not led to a decrease in employee coverage. The past year saw health care plans mainly unchanged. Some companies increased employee premium contributions, and employee deductibles, while increasing medical plan options.
“The costs of benefits continues to rise significantly,” said Williams. “The average employee-only premium is $6K annually and the family premium is $16K annually.”
Survey results not unique
The results do not tag Livingston County as an anomaly. “The data doesn’t vary much in Livingston County from that in the Detroit area and nationally,” Williams said, referencing state and regional data.
The survey saw 65 contributing Livingston County organizations, from trucking and manufacturing companies, to insurance and municipal government organizations. Williams said the presentation reflected important facets for productivity.
“Businesses who participated in the survey now have the data to give them a competitive edge in the field as Livingston County continues to lead in wages and benefits in southeast Michigan,” said Williams. Those who did not participate but wish to receive the survey data may order a copy for $175 from The Howell Area Chamber of Commerce.
EctoHR can be your resource
EctoHR, Inc. is ready to assist your company with all aspects of HR. Contact a team member at EctoHR by calling 810.534.0170, or by email to email@example.com.