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in Survey of Tennessee Employers: Little Change in Turnover and Benefits Costs
But More Merit Increases are Planned
Effective Resources, Inc.
releases third annual survey of Tennessee salary and benefits data, representing
more than 1.9 million employees.
Knoxville, Tenn., September 21,
2011 - Tennessee's employers are reporting a slightly higher monthly employee
turnover rate than they did last year-and a rate that is about half of the
national average. Even so, significantly more are planning merit increases than
last year. These are just a few of the key findings reported in the
2011 - 2012 State of Tennessee Salary, Wage and
presented by Effective Resources, Inc., a leading human resources consulting
The 2011 - 2012 survey
encompasses data from 222 Tennessee employers who represent well over 1.9
million employees nationwide and more than 82,600 employees in Tennessee alone.
The survey was sponsored by the Tennessee SHRM (Society for Human Resource
Management) State Council, Inc. with the active support of the Tennessee Chamber
of Commerce and Industry.
Among the findings of the 2011 -
2012 survey of Tennessee's employers:
The average monthly employee
turnover rate for Tennessee is 1.7 percent-slightly higher than last year's
turnover rate of 1.6 percent and about half of the national average of 3.0
percent as of July 2011.
The Hospitality & Restaurant
sector experienced the highest turnover at 4.1 percent, while the
Manufacturing/Distribution sector experienced the lowest turnover at 1.1
percent. These are typical results.
Roughly 76 percent of
Tennessee's employers are planning merit increases for this year-a
significant increase from the 56 percent who planned increases last year.
The state's overall merit increase is projected to be 2.8 percent for this
year and next year, which is on target with last year's projections.
Regarding employee benefits
costs, the good news is that 71.6 percent of Tennessee employers reported an
increase of 10 percent or less in their medical insurance premiums. The bad
news is that 28.4 percent reported an increase of 11 percent or more in
their premiums. Overall, this is a slight improvement over last year.
In addition to sharing its
statewide survey findings, Effective Resources, Inc. is sharing regional
findings for East Tennessee, Middle Tennessee and West Tennessee.
"This is the third annual salary
and benefits survey that we've conducted in the state of Tennessee and we're
happy to report that participation in this year's survey rose by 3.3 percent
over last year," said Barry Brown, president of Effective Resources Inc. "This
makes our data more encompassing and more relevant than ever, especially as a
critical benchmarking and planning tool for the state's employers."
The 2011 - 2012 survey was
conducted, tabulated and reported by SalarySurveyOnline.com, a web-based data
collection and reporting system designed and managed by Effective Resources,
Inc. To learn more about the surveys and their availability, visit
to get a copy of the 2011 - 2012 State of Tennessee Salary, Wage and Benefits
Survey Executive Summary
About Effective Resources
Effective Resources, Inc. is a
leading human resources consulting firm specializing in providing companies
assistance with compensation issues, affirmative action plan preparation, salary
surveys and employee opinions surveys, as well as other areas of human
resources. Effective Resources, Inc. has been in business since 1992. Visit our
Barry Brown, SPHR CCP
Effective Resources, Inc., President