AchieveNEXT Releases 8th Annual Mid-Market Talent Acquisition, Compensation, and Culture Study
PHILADELPHIA - September 14, 2021 - ( Newswire.com )
AchieveNEXT, the leading provider of Peer Advisory Networks and Talent Development and Performance Solutions for mid-market leaders, their teams, and enterprises, has released its 2021-2022 Mid-Market Talent Acquisition, Compensation, and Culture Study. The report highlights a significant increase in executive compensation, while also exposing grave challenges and faultlines for midsized companies as they seek to find and keep talent amid what some are calling “The Great Resignation.”
This report was produced using data from a survey of mid-market executives conducted in August 2021, and outlines current executive compensation; talent acquisition and retention; and culture practices. The report, which was created in partnership with Insperity, also looks at variances from 2020 to 2021.
The study’s survey was sent to finance and human resource (HR) leaders from more than 5,000 emerging and mid-market enterprises in North America. The participating executives provided detailed information on base salary design, short- and long-term incentive programs, and insights into their respective talent acquisition and culture development efforts.
“Executive compensation has kicked back into gear, as you’d expect given the strong performance of these enterprises,” said AchieveNEXT CEO Nick Araco. “But C-suite leaders also shared specifics about how hard it is to attract and retain talent, especially for companies like this. This data allows for benchmarking, best practice sharing, and peer learning, as well as for aggregate and custom analysis, which is integral to the DNA of AchieveNEXT and Insperity.”
Key findings include:
- Compensation for executive and senior-level leaders has increased solidly across the board.
- Enterprises are struggling to keep and find critical skilled talent in the face of the ” Great Resignation.” The challenge of finding and keeping specialist and technical workers is especially acute.
- Nearly half (47%) of respondents say they do not have the right tools and incentives to cope with today’s talent challenges.
- Learning and development, diversity, and other initiatives should be part of a reimagined Employee Value Proposition to support growth and energize cultures.
Unlike most annual salary surveys, this report allows enterprises to benchmark the design and variations of short- and long-term compensation programs, including the components and total compensation of CFOs, controllers, accounting managers, HR leaders, and other C-Suite leaders, in areas such as sales, marketing, and operations.
Additionally, the survey identifies and quantifies trends in how culture, compensation, and talent acquisition impact top-line, bottom-line, and shareholder value.
“The landscape around talent has changed,” said Mike Ross, Insperity Director of Innovation and Development. “Business leaders have an opportunity to re-establish a clear strategy surrounding the acquisition, retention and development of their top talent. Successful companies are purposeful when it comes to their people strategy and this report provides great benchmarking data and insights to get started.”
- Download the Executive Summary
- Purchase and Download the Full Report
- Request a copy of the Report from AchieveNEXT & Insperity - Contact Nick.Araco@AchieveNEXT.com.
- Join a CFO - CHRO Peer Discussion on key findings and actionable recommendations
AchieveNEXT combines subscription Peer Networks with Talent Development Solutions to provide business leaders, teams, and enterprises with benchmarking, insights, and solutions for next level performance. Learn more at achievenext.com.
Insperity®, a trusted advisor to America’s best businesses since 1986, provides an array of scalable HOUR solutions designed to help companies maximize productivity and manage risks. Offering the most comprehensive suite of products and services available in the marketplace, Insperity delivers the optimal blend of service and technology to bring administrative relief, reduced liabilities and better employee benefits through Insperity-sponsored plans. With 2020 revenues of $4.3 billion, Insperity is currently making a difference in more than 100,000 businesses with over 2 million employees nationwide. For more information, visit www.insperity.com.
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