Data to Navigate Today’s Talent Challenges
By Rachael Powell, AgCareers.com Data Analyst – HR Solutions
Employers must remain competitive through recruiting efforts and by satisfying the needs of their current employees. The AgCareers.com Compensation Benchmark Review provides powerful data to help navigate today’s talent challenges. AgCareers.com recently released data for the 2018 Compensation Benchmark Review from participating companies in both Canada and the United States.
“We are seeing an uptake in our industry’s needs for agribusiness specific survey data. More companies are reaching out to learn about the survey and its benefits as they evaluate the tightening employment market,” says Mary Barefoot, Director of HR Services.
The methodology for completing the Compensation Benchmark Review certifies that submitted positions are correctly benchmarked through a consistent process of data collection and review of the accountability of each position. This year AgCareers.com enhanced its data auditing process through the addition of a new cleaning platform. The platform assists the data analysis team in quickly identifying outliers and identify demographics from each position to release. Overall, this additional platform ensures participating companies receive quality data as they attempt to not only remain competitive with other employers, but also retain quality employees.
Think you need to evaluate compensation at your company? Demographic data displayed within the CBR survey covers employers of various industries, locations, employment, and revenue sizes. Canadian data was comprised of 28% AgChem/Fertilizer/Seed, 55% Commodities/Feed, 12% General Ag Retail and 5% Other. Data was also made of 34% urban employees and 66% rural employees. The top five represented provinces were: Saskatchewan, Ontario, Alberta, Manitoba, and Quebec.
Within the United States, the newly released data displays a makeup of 31% AgChem/Fertilizer/Seed, 25% Commodities/Feed, 9% Cooperative/Ag Retail, 29% Livestock Production/Processing, and 6% Produce and Farming. Additionally, 31% were reported from urban areas and 69% had a rural location. Data is reported across all states, the top five represented were: Iowa, Missouri, California, Illinois, and North Carolina. Using these demographics, employers can remain competitive using a wide variety of demographic points for benchmarking.
Preliminary results from the 2018-2019 Agribusiness HR Review confirm this need for action among employers, noting that “competing for talent and recruiting difficulties” were HR’s top concern. As reported, 88% of U.S. employers and 85% of Canadian employers use at least one source to obtain information for salary data benchmarking. In addition, over half of companies within Canada and the United States have performed a compensation market study within the past two years and nearly half of participants from both the U.S. and Canada enlisted the help of AgCareers.com’s Compensation Benchmark Review.
Employers also pointed out in the Agribusiness HR Review that recruiting for hourly/ non-exempt workers are most difficult in the U.S., while employers in Canada are having trouble recruiting sales staff. Employers will need to ensure that offers to these candidates are strong to secure the needed skills for the role.
Click here for more information on AgCareers.com’s exclusive agribusiness salary survey, the Compensation Benchmark Review, or email email@example.com.