Colorado employers expect to raise their workers’ pay by an average 2.8 percent next year, the same average increase as they projected for 2014.
That’s according to the latest annual Colorado Compensation Survey from the Mountain States Employers Council.
Denver-based MSEC surveyed 444 Colorado employers in various business sectors with a combined 38,884 employees.
Projected 2015 raises in the Denver/Boulder area also average 2.8 percent, the same as this year, MSEC said.
In the Denver/Boulder area, the back-to-back projected 2.8 percent pay increases for 2014 and 2015 are the highest since 2008’s 3.3 percent rise, according to annual survey results. Metro Denver raises averaged 1.7 percent in 2009 and 2010, the lowest in 40 years.
In Denver/Boulder, projected pay raises next year range from 2.1 percent in construction and 2.3 percent in the nonprofit sector to 3.3 percent in both insurance and oil and gas, MSEC said.
Across the state, expected raises next year range from a high of 3.1 percent in Northern Colorado to a low of 2.3 percent on the Western Slope.
In other survey results:
• Colorado employers said health coverage premiums for their workers increased 4 to 5 percent between 2013 and 2014, depending on their employee’s number of covered family members.
• Employers reported an average 17 percent turnover of their workforces last year, roughly the same percentage as the previous four years. But voluntary departures alone (excluding firings and layoffs) totaled 12 percent, a rate that has crept upward over the last few years from a low of 8 percent in 2009.
• Average Colorado CEO annual pay in 2014 among surveyed companies is $322,949, up from $267,506 last year.
MSEC represents some 3,000 member employers in Colorado and Arizona, offering such services as employment law information, human resources, training and surveys.
Read the original article here.
Leave A Comment