Team Neo Announces Starting Wage And Benefits Survey

Team NEO Announces Starting Wage and Benefits Survey

Data to Help Business Attraction and Growth Efforts;
Respondents to Receive Copy of Report

Team NEO is partnering with The Corporate University, Kent State
University at Stark to conduct a survey to gather and report
starting pay and benefits information. This research will provide
data on 250 professions in 18 counties of Northeast Ohio that
represent the combined labor markets of Cleveland, Akron, Canton,
Youngstown and neighboring suburban and rural counties.

Now through March 31, 2014, companies in the 18-county region that
fit this profile are being asked to respond. Companies should have
a human resource representative visit the following link: Companies responding to the survey will have
access to the report – a valuable benchmarking tool.

Data currently available to companies from the state provides
median and average wages, which can be skewed, due to the
region’s number of veteran workers and low
“churn,” the economic term for worker turnover.
Starting wage and benefits data gives companies a baseline from
which to project the costs of recruiting entry level and
experienced talent. “There is a real need for starting wage
and benefits information for recruiting both workforce and
businesses to Northeast Ohio,” according to Jacob Duritsky,
managing director, Research for Team NEO.  “Most of the
businesses that we meet with ask about labor costs during the first
meeting. The information from this survey provides a more complete
picture of what it would cost to start or expand a business

Team NEO, in collaboration with its partner chambers and
county-based economic developers, have identified a core group of
businesses to survey based on occupations usually in demand by
companies that are new to the region. The group has identified the
250 occupations that are most important to the region and its
growth. These include professional and skilled labor