Hardware Retailing

NOV 2017

Hardware Retailing magazine is the pre-eminent how-to management magazine for small business owners and managers in the home improvement retailing industry.

Issue link: http://hardwareretailing.epubxp.com/i/889894

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Page 60 of 78

HARDWARE RETAILING | November 2017 56 Hardware Stores C ompared to payroll numbers from NRHA's 2014 Employee Compensation Report, wages were mostly up for full-time employees in 2017 at hardware stores. Owner and officer pay increased the most, jumping from $50,000 per year to $65,230, which could reflect industry growth. Unlike in 2014, the 2017 compensation study breaks out inside sales positions' pay from outside sales jobs, as well as manager pay from assistant manager wages, so the average salaries for those positions are not comparable from study to study. Wages for full-time department managers, cashiers, office personnel, stockers, delivery and receiving positions, warehouse workers and yard jobs all increased at hardware stores. For example, department manager pay grew from $12.20 per hour to $15, and cashier wages increased from $9.93 to $11 per hour. Pay for part-time workers dipped in nearly every position, except for stock, which went from $7.25 per hour to $10.24, and office staff, which jumped from $12.02 per hour to $15.93. Notably, the percentage of stores that offer health insurance declined from 2014 to 2017, with nearly 40 percent not offering medical plans of any kind versus 32 percent in the prior study. The stores that offer health insurance pay an average of 34 percent of premiums for full-time workers. Types of Health Insurance Plans Offered by Hardware Stores 0% 10% 20% 30% 40% 50% PPO 39.58% HSA 26.04% Don't Offer Insurance 18.75% HMO 13.54% FSA 2.08% The stores that contributed health insurance information to this chart, at minimum, offer medical insurance to store managers and assistant managers. The typical hardware store dedicates 20 training hours per year to managers and assistant managers and 10 training hours per year to part-time workers.

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