Charleston Metro Chamber’s Center for Business Research releases 2021 Compensation and Benefits Report

The Charleston Metro Chamber’s Center for Business Research conducted a compensation and benefits survey in spring of 2021, in collaboration with the Berkeley and Greater Summerville / Dorchester Chambers of Commerce. The survey was open to all types of business establishments — all sizes and all business sectors.

Nearly 100 companies, representing approximately 40,000 employees in the region, participated in the biennial online survey.

Key findings from the study include:

• Pay increases appear to have returned to 3% to 3.5% for all types of employees within all sectors
• About 60% of employers reported having a work-from-home/telecommuniting policy in place
• Lack of or too few applicants is reported as a top concern for both manufacturers (88%) and non-manufacturing (47%) employers

“The survey was designed by the Center for Business Research with input from local experts in the human resources field in order to develop the most effective questions to be included in the survey,” said Jacki Renegar, Director of The Center for Business Research. “We hope that the results of this survey will better inform regional organizations’ compensation and benefits practices.”

The 2021 Charleston Metro Area Compensation and Benefits Practices report encompasses the survey results and the benefits and compensation practices among employers in the three-county Charleston Metro Area (Berkeley, Charleston and Dorchester Counties).

This study’s objective is to provide information on compensation practices of firms operating in the three-county region to:

• Help existing firms evaluate their own organization’s compensation practices more effectively, particularly with the pandemic’s effect on work environments
• Assist companies in creating a benchmark analysis to use for strategic planning purposes, and
• Provide trends and general information on typical local employer practices to prospective companies and site selection consultants looking at the Charleston region as a potential business location.

To view the 2021 Compensation and Benefits study, visit www.charlestonchamber.org/compbenefits.

About the Center for Business Research

The Center for Business Research, founded in 1990 by the Charleston Metro Chamber of Commerce, compiles, analyzes and distributes economic and demographic information on the Charleston region. Conducting both primary and secondary research, the Center is a resource for unbiased business, demographic and economic statistics, and its work has been recognized nationally through numerous awards and presentations. The Center has been conducting wage and benefits related surveys since 1997. Though study participants differ each time the survey is conducted, significant shifts in reported policies and practices over time can be indicative of real-time trends in local employer practices. For more information, contact the Center for Business Research at 843-577-2510, or visit the resource center of the Metro Chamber’s website https://www.charlestonchamber.org/news/resource/.

About the Charleston Metro Chamber

With approximately 1,600 member organizations representing 160,000 professionals, the Charleston Metro Chamber of Commerce serves as the collective voice of the business community, and a catalyst for regional economic advancement and member success through Talent, Advocacy, Leadership and Business Development. Visit charlestonchamber.org.