The 2016 IPA Human Resources report engaged participation from more than 136 firms, contains 70 pages of tables and graphs, and includes information from 43 firms above $30 million, 23 firms between $20 million and $30 million, 45 firms between $10 million and $20 million, and 25 firms under $10 million. A few observations are worth noting.
PROFESSIONAL STAFF TURNOVER: Turnover averaged 13.4% last year, with 16% of firms experiencing turnover rates more than 20%, and 7% more than 25%. More than 3,200 professional staff left their firms last year. For every person who was terminated, 3.9 professional staff left voluntarily.
BENEFITS: Ninety-four percent of firms are offering medical coverage to all employees. This is down from 99% last year with the biggest decreases being seen in the firms above $30 million. The percent of firms offering dental and vision coverage also decreased.
CONTINUING EDUCATION / TRAINING: The average annual CPE budget allocated to partners is $3,127; entry-level staff is $1,818; and 9+-year experienced staff is $2,455. Nearly 70% of firms provide formal training for administrative personnel and 55% report they have an in-house training department.
EVALUATIONS AND PERFORMANCE REVIEWS: According to the survey, professional staff are reviewed semi-annually in 37% of firms, and annually in 46% of firms. Administrative staff are reviewed annually in 74% of all participating firms, two-thirds of all participating firms indicate that they review partners on an annual basis, and 49% indicate that partners are reviewed “as needed.”
Forty-one percent of firms indicate they use a 360-degree review program, and 76% of those firms include reviews of the partner group.
For more information about the Human Resources Report, view the Executive Summary or Order the 2016 Report, go online.
The 2017 Human Resources Survey has launched. Contact IPA for your invitation to participate.