MRAA releases 2017 retail compensation studyPosted on
The Marine Retailers Association of the Americas released the results of its 2017 MRAA Compensation Study, which details the compensation ranges for 35 common job descriptions in the retail sector of the marine industry.
More than 2,600 position-level responses were collected from 292 retail locations for the in-depth report, which was created in response to an industry-driven desire to identify staffing and compensation trends for retail employees across North America.
The results of the study are being shared with the industry through an executive summary, a full report and a dynamic online compensation calculator.
“After completing a comprehensive workforce assessment in 2016, we heard the message loud and clear that dealers believed that they could not compete with compensation packages from other industries,” MRAA president Matt Gruhn said in a statement.
“With no comprehensive compensation-related information or resources in our industry, MRAA set out to define compensation levels, benefits packages and more to provide a baseline for understanding and acting on the workforce challenges we face.”
The full 30-page Compensation Study Report boasts insights into salary and hourly compensation ranges for 35 common marine retail job descriptions. It dives into benefits offered at retail operations, year-over-year compensation increases, additional cash compensation packages and much more.
The study’s dynamic online calculator allows dealers, then, to customize their own compensation research by narrowing their criteria by geographic region, geographic location, revenue size and more. It also breaks down compensation by the 10th, 25th, 50th, 75th and 90th percentiles, whereas the full printed report only highlights the 10th, 50th and 90th.
“We wanted to ensure that we not only captured relevant data to help MRAA continue to address workforce needs,” Gruhn explains, “but also that the data was useful to the dealer body in identifying and reacting to compensation and benefit trends so they can remain competitive in today’s workforce environment. This calculator provides them an incredible tool along those lines.”