(Gaithersburg, MD) — The Education Market Association (EDmarket) has signed on as a new sponsor of the Solomon Coyle YE2020 Compensation and Practices Survey. This biennial study is the industry’s most comprehensive source of information on dealer compensation, which includes hourly rates, salary, benefits, and HR policies and practices. Solomon Coyle will manage data collection with final responses from the comprehensive survey due at the end of May. Covering major topics that encompass specific roles of dealership human resources, the final report will include data breakouts by competency level, revenue, region, and where possible, specific geographic markets. Webinars to participants presenting the results will be announced in mid-June.
“In today’s challenging marketplace data drives all good decision making,” says Jim McGarry, President/CEO of EDmarket. “The association sponsorship of the Compensation and Practices Survey puts member dealers in the driver seat in terms of setting salaries and benefits that keep their businesses sustainable.”
David Solomon, Managing Principal at Solomon Coyle states, “It is important for the educational dealer community to understand current compensation and incentive programs for our industry. As we come out of the pandemic, dealers need to know how compensation practices are changing.”
Participation is by invitation only, at no cost to EDmarket dealers, as the survey is sponsored by the following industry leaders: Allsteel, Haworth, Herman Miller, Kimball, Knoll, Steelcase and new for this year, Teknion LLC, and the Education Market Association. All survey results will remain confidential to both the responding dealers and Solomon Coyle.
“A key thing to remember is that 70% of the cost to a dealer, after product purchase, is related to its people,” adds Paul Holland, Principal at Solomon Coyle. It’s imperative to understand compensation best practices to stay competitive. This analysis enables dealers to benchmark their own compensation programs, while gaining an understanding of what similar companies are doing.”
Access to the final report is complimentary for all sponsored dealers and EDmarket members that submit a valid YE2020 survey. Sponsored dealers that do not submit a valid survey will have the option to purchase the report at a cost of $2,400. Dealers who have questions about this year’s Comp Survey are encouraged to email researchsupport@solomoncoyle.com.
The Education Market Association connects people who want to succeed in the education market by providing events, resources, and leadership to those serving education. For more information on the Education Market Association, please visit www.edmarket.org.
