Salary survey benefits you

by Larry Meyer
MRA Chairman and CEO

We know filling out surveys can often be a pain.

In this case, however, any pain is definitely worth the gain.

The latest installment of MRA’s landmark survey on salaries, wages and benefits for retail employees will hit your mailbox the first week of June. It’s a follow-up to our 2000 survey, which was the first of its kind in the industry.

Taking the 10 or 15 minutes necessary to fill out the confidential questionnaire will benefit you and fellow retailers throughout the state.

First, you’ll receive a free copy of the survey results so you can see where you stand in relation to other retailers. You’ll be able to see whether your compensation package is competitive and how you can make it more attractive while controlling costs.

Second, your participation will help give an accurate picture of retail compensation in Michigan and reveal trends over the last two years.

The labor market has eased from the employment crunch retailers faced in 2000. Nonetheless, finding qualified, enthusiastic employees remains one of retailers’ greatest challenges. As one specialty retailer pointed out recently at a Michigan Retailers Academy seminar on successful retail strategies, employees affect every aspect of your business.

A competitive pay and benefits package is a key part of attracting, motivating and retaining the best workers. Paying too much can hurt your bottom line. Not paying enough can hurt your ability to provide the quality service that helps you compete.

The MRA salary, wage and benefits survey is an important project that furthers the interests of all retailers. Look for your survey in the mail and be sure to return it promptly.