When it comes to compensation, how does your business compare to benchmarks and standards across the rest of the convenience and fuel retailing industry? Is your offer competitive? Are you offering more than you need to? Not offering enough to attract and retain good talent? We can help you get answers to these questions, and more.
Each spring, NACS publishes its State of the Industry Compensation Report®, providing critical benchmarking data and up-to-date standards in the key human resource categories of compensation, turnover and benefits. The report breaks down the newest available numbers in the convenience industry and is considered an essential guide for HR professionals.
For nearly 40 years, companies have relied on this report for the most accurate snapshot of:
- Salaries (includes annual base salaries, other compensation and wage increases)
- Turnover (displayed by region, firm size, and top quartile)
- Benefits by Position and Exemption Status (medical, health care cost as a percentage of payroll, percentage of enrollment, company contribution)
- Small Operator
- And more!
Data is conveniently displayed by firm size, region and location type (e.g. rural or urban) so you can pinpoint averages specific to your area or needs. Senior executives and HR professionals use the report to set new fiscal year priorities, compare their workforce investments against the industry and better understand some of the underlying drivers of their company’s performance. By benchmarking their wages against averages, for example, operators are able to make better informed decisions around their company’s compensation strategy—specifically where to trim and what to invest in. They can also see how and where their benefits compare, which allows for smarter program tailoring. The report also addresses top of mind issues for retailers, including labor. Operators around the country are faced with new government regulations on minimum wage and increasing competition for labor by other channels (QSR’s, Uber)—all the more reason why securing—and retaining—good talent is important to success.
Data Collection Period for Annual Survey Now Open
While the report will not be published until early spring 2017, NACS is collecting the industry data now — and your company can be a part of the analysis. In fact, we cannot do it without your input! It’s simple to participate and the results can be invaluable for your business, helping you develop a more competitive compensation strategy to attract, engage and retain top talent.
Additionally, all survey participants will receive a complimentary copy of the published report (a $275 value).
The 2016 Compensation Report Survey can be completed online*, using a link that can easily be shared among team members. The data collection tool allows you to save your responses so you do not have to complete the survey in one sitting. Deadline extension: All survey responses must be submitted by Friday, Feb. 3, 2017.
Show Me the Survey
* Your company’s data is treated confidentially; it will only be used for analyses with data from other submitting firms. NACS has honored this pledge of confidentiality for more than 40 years while reporting aggregated metrics that are critical to the convenience and fuel retailing industry.