Bonuses a Major Part of Produce Executive Compensation Says United Foundation Survey
July 19, 2011
Bonuses
account, on average, for 30 percent of C-suite executive (CEO, COO,
CFO) compensation, according to a new survey of
produce industry compensation and benefits released today by the United
Fresh Foundation, through its Center for Leadership Excellence.
The
confidential survey of 119 produce industry companies measures employee
compensation and benefit data for a wide range of full-time positions
including sales and marketing, production and operations, quality
control and assurance, administration, finance and accounting, and
executives. The survey was open to U.S.-based produce industry employers
including grower-shippers, brokers, wholesaler-distributors,
importers, exporters and fresh-cut processors.
"This
new report offers compensation data from multiple market segments
across the nation," said United Fresh Senior Vice President of Member
Services Victoria Backer. "This
is a terrific yardstick by which produce companies can gauge their
salary and benefit levels to ensure their competitiveness within the
industry, increase profitability, and not only attract new talent, but
also retain the valuable employees already on the
team," said United Fresh Senior Vice President of Member Services
Victoria Backer.
United’s
compensation survey shows detailed salary and benefits information on
companies, sorted by ownership type, type of business, produce sales
volume, number of full-time employees and geography.
The
survey represents a wide range of the industry with regard to company
size, with 32 percent of responses coming from companies with between
100 and 499 full time employees, and almost 17 percent coming from
companies with fewer than 20 full time employees. Also represented is a
large range of sales volumes, including 30 percent of responses from
companies doing more than $100 million in annual
volume, and 22 percent from companies doing less than $15 million in
sales annually.
Additional information in the compensation report includes:
Adjustments to salary structure during the current fiscal year and anticipated adjustments for the coming year
Basic healthcare plans provided by companies
Retirement plans offered by companies
The
survey concept was developed by the United Fresh Grower-Shipper Board,
which identified an important need for a national compensation survey
for the fresh produce industry.
To help ensure the broadest and most beneficial input for the produce
supply chain, a task force with members from the United Fresh
Grower-Shipper Board, Fresh-Cut Processor Board, and
Wholesaler-Distributor Board was formed in December 2010. The Task Force
reviewed and provided input to help determine the top 30 positions
within the industry that would be most valuable to industry members. In
February 2011, the survey was sent to the industry and 119 surveys were
completed. Industry Insights, an Ohio-based
company that specializes in industry compensation research,
administered the survey on behalf of United’s Foundation.
"The
produce industry competes with other industries for attracting and
keeping the best talent. United’s Grower-Shipper Board strongly
supported the idea of conducting a
national compensation survey to help industry employers stay
competitive in the workplace," said Fred Williamson, president of Andrew
& Williamson Fresh Produce and chairman of United’s Grower-Shipper
Board.
The
final survey report is now available to members of United Fresh for
$495 and non-members for $695. Companies who participated in the survey
receive an additional discount. The survey can be purchased
here, and more information is available by contacting Victoria Backer at 202-303-3400, ext. 408, or
vbacker@unitedfresh.org.
United Fresh Produce Association
1901 Pennsylvania Ave. NW Suite 1100
Washington, DC 20006
Tel: 202 303 3400
Fax: 202 303 3433 united@unitedfresh.org