ALEXANDRIA, Va.—The NACS State of the Industry Compensation Report® of 2020 Data, an essential guide for human resources professionals in the convenience and fuel retailing industry, is now available for purchase.
The Compensation Report reveals notable industry challenges and opportunities related to turnover, wages and benefits that transpired during 2020, which continue to impact retailers as they plan for a post-pandemic future.
At the store level, the combined turnover rate for full- and part-time associates remained in the triple digits at 123% in 2020. The average turnover rate was 91.8% for full-time hourly store associates and 153.9% for part-time hourly store associates. The turnover rate for store managers improved to 20% in 2020, compared with 22% in 2019.
The average hourly wage for a store associate was $11.89 in 2020, which is up 40.5% in the past 10 years. Meanwhile, nearly all companies (92%) offered medical coverage to store hourly employees. In addition, 2020 represented the highest number of companies offering dental (84%), prescription coverage (83%), retirement (84%), life insurance (77%) and vision (76%) benefits since NACS began surveying members in 1978.
“Wages and benefits are the greatest expense to a convenience retailer’s bottom line. With the benchmarking data and metrics provided in the Compensation Report, retailers can make strategic and financial decisions that help drive recruitment, training and retention of our most important assets—our people,” said Andy Jones, NACS vice chairman of research and technology and CEO of Sprint Food Stores.
This year NACS added two new positions to the report: director of food safety and social media/marketing manager, as well as an expanded bonus structure. Four new wellness benefits also are included: career development planning, bonus/incentive programs, in-store discounts and severance pay.
As in past years, the Compensation Report includes questions on salaries and incentive pay for top corporate positions, operations and store-level positions. Information on medical benefits reflects averages for single and family premiums, participation eligibility and enrollment in insurance plans.
The Trusted Source
For more than four decades, convenience retailers have relied on the Compensation Report’s benchmarking data on salaries, turnover, benefits and recruitment. NACS member organizations find the NACS report helpful for:
- Building the case for changes to their compensation structure, benefits packages, training, etc.
- Improving how they make compensation decisions
- Showing proof for or validating changes to their compensation structure
- Benchmarking the most important compensation metrics by region and company size
Purchasers of the NACS State of the Industry Compensation Report® of 2020 Data will receive immediate access to a DRM-secured PDF through their convenience.org login profile. All content within the report is copyright protected and cannot be shared, duplicated or transformed without express written permission from NACS.
This year’s report is based on data submitted by 85 retail companies and represents more than 15,000 stores and 262,000 corporate, operational and store-level employees. NACS has honored a pledge of confidentiality for more than 50 years while reporting aggregated metrics that are important to the convenience and fuel retailing industry.