As the workforce landscape in Hawaii continues to evolve, recruitment and retention remain top concerns for businesses. The 2024 Professional, Administrative, and Management (PAM) Survey offers key insights into salary trends, providing a critical reference point for organizations looking to stay competitive. Conducted between May and August 2024, the survey reflects data from 160 businesses, covering 157 job positions across a wide range of industries.
Key Findings:
- Salary Increases: This year, only two job roles saw salary increases above 10%—a significant drop from 2023, when 12 positions exceeded that threshold. Corporate Tax Managers experienced the highest salary growth at 13.26%, followed by Benefits Analysts I, with a 10.8% increase. On average, salaries rose by 3.8%, slightly higher than projected. The majority of jobs, however, saw above-moderate increases in pay, with only four professional and management roles offering median annual salaries below $58,656.
- Salary Structure: The survey shows that organizations with formal salary structures regularly review their pay scales to remain competitive. Most companies, 64.4%, had conducted a salary structure review within the past year, while 15.5% conducted their review two years ago.
- Compensation Strategy: Benchmarking compensation at the median (50th percentile) continues to be a common strategy for many organizations. This ensures that their pay levels are competitive with industry standards, helping to attract and retain talent.
- Recruitment & Staffing Strategies: With ongoing recruitment challenges, businesses are adopting diverse strategies to attract talent. 71% of respondents identified employee referral programs, improving recruitment, and internship programs as the top three effective methods to support recruitment.
- Sign-On Bonuses: Sign-on bonuses are increasingly used as a tool to attract employees to critical or difficult-to-fill positions. The survey indicates that these bonuses vary widely depending on the department and role, further demonstrating the importance of flexibility in compensation strategies. Notably, sign-on bonuses ranged from $500 to $35,000, with a median bonus of $1,250.
With projected salary adjustments of 3% (based on the 2023 Salary Adjustment Survey) for the coming year and potential changes to exempt salary thresholds and minimum wage increases, the 2025 pay landscape in Hawaii is poised for continued shifts.
For a deeper dive into this year’s salary trends and strategies, we encourage you to explore the full PAM survey highlights. The data provided can help guide your organization in setting competitive pay structures and compensation strategies, ensuring you stay ahead in the battle for talent.
Contact Us for Custom Reports HEC offers a variety of compensation surveys and custom reports to help organizations develop competitive compensation and benefits plans. For more information or to request a custom report, contact our Survey & Compensation Services team, Dawn Mitchell or Susan Amuro.