Corporate University Releases Wage and Benefits Survey Results
Summary report provided as community service to help businesses make data-driven decisions.
A lack of skilled labor is one of the top hiring challenges that businesses in Stark and Wayne counties face, according to the results of a wage and benefits survey conducted by the Corporate University at Kent State University at Stark.
More than 120 area companies completed the online survey, which was conducted in 2018. The summary report released by the Corporate University is being provided as a community service to area businesses to help officials make data-driven decisions regarding wage and benefits packages.
"We believe this report will provide useful information, such as vacation and sick time offered by area businesses, the percentage of health benefits paid by employees, and most importantly local wage data," said Marshall Hill, Corporate University outreach program coordinator and author of the survey.
Claudia Gomez, Ph.D., assistant professor of management and information systems at Kent State Stark, said some of the most notable data refer to hiring challenges that area businesses face.
"Seventy-two percent of the respondents reported having challenges hiring employees, while 37 percent stated that this is due to difficulty finding candidates with the desired skills or qualifications," said Dr. Gomez, who teaches courses in organizational behavior, leadership and human resource management. "This suggests that the labor market is not meeting the needs of the businesses surveyed."
"From an economic development perspective," said Dr. Gomez, "this is of concern since part of what allows for economic development is the human capital available in a region. If companies considering locating to the region assess that there is not enough human capital for a successful operation, they might decide to go elsewhere."
Dr. Gomez also notes the data reflect opportunities for continued partnerships between the business community and Stark County’s institutions of higher education through initiatives, such as Strengthening Stark.
The survey also reveals insights about workplace perks that are strongly considered by Generation Z when entering the workforce. Only 34 percent of respondents offer remote work or work-from-home opportunities. “This can deter the youngest educated generation entering the workplace from locating here and staying in the region,” Dr. Gomez said.
For further questions regarding the data in this report, please contact the Corporate University at 330-244-3530 or Melissa Griffy Seeton, public relations and media communications coordinator, for interview requests at 330-244-3262 or firstname.lastname@example.org.