Data collected will be used to benchmark compensation and track trends in the franchise sector to assist franchise companies with hiring and staff retention.

PORTSMOUTH, NH, UNITED STATES, February 28, 2024 /EINPresswire.com/ -- Franchise Business Review (FBR), an independent research firm specializing in the franchise sector, announces that participation is now open for the 2024 Recruitment, Retention, and Compensation Survey. The survey is part of FBR’s ongoing franchising@WORK research to better understand hiring, compensation, and employee engagement trends in franchising.

The goal of the survey is to collect payroll and general benefits information for key roles within corporate franchise organizations, as well as general trends around recruitment, hiring, and retention. The survey is open to HR professionals or senior executives within corporate franchise organizations.

“When we last benchmarked salaries in the franchise sector, the data revealed that wages among corporate franchise employees had increased just 4.3 percent in 2022, but adjusting for inflation, real wages had continued to decline,” said Eric Stites, CEO of Franchise Business Review. “Not surprisingly, 32 percent of franchise employees stated they were underpaid. The research we’re conducting now is critical to helping franchise companies evaluate their compensation structures based on an apples-to-apples comparison, increase employee satisfaction, and ultimately, stay competitive in a tight labor market.”

All information submitted via the survey will be considered confidential. FBR will only use the data in aggregate form to determine industry benchmarks. No company-specific information will be shared in the final report.

All participating brands will receive a free copy of the compensation report (a $995 value) when it is released later this year.

Participate in the survey now. The deadline for survey completion is March 22, 2024.

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About Franchise Business Review
Franchise Business Review (FBR) is the leading independent market research firm specializing in franchisee and employee satisfaction. FBR provides franchise companies with benchmarks and best practices to improve satisfaction, engagement, and retention. FBR has partnered with over 1,200 top-performing franchise companies to drive franchise growth and achieve greater success through data-driven insights. Learn more about FBR’s research at GoFBR.com.

Ali Forman
Franchise Business Review
+1 603-319-4818
ali@franchisebusinessreview.com
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