Based on the benefit results of the Prevailing Wage Survey conducted by the Saipan Chamber of Commerce, only 10 or 5.3 percent of the 190 companies that participated in the survey said they offer a supplemental life insurance program. Of 166 organizations that participated, 134 or 80.7 percent offer bereavement leave, 29 organizations or 17.5 percent do not offer this benefit, and three organizations did not specify.
Education/Tuition assistance plans
Only 16 or 8.51 percent of the 188 participating organizations offer education benefits including tuition assistance plans to their employees. One organization said it offers education and tuition assistance of $5,000 per year to employees and $2,500 per child per year, one organization offers education/tuition assistance to dependents but not to the employee, and 170 or 90.43 percent do not provide education/tuition assistance to employees.
Profit sharing
Out of 187 participating organizations, only 16 or 8.6 percent said they have a profit sharing program. 171 or 91.4 percent said they don’t have this benefit.
Basic life insurance
Of 188 participating organizations, only 54 or 28.7 percent offer basic life insurance program to their employees.
Medical/dental group insurance
The survey results also showed that more companies also prioritize group medical insurance, with 120 or 61.9 percent of 194 respondents, than group dental insurance where only 73 organizations or 37.8 percent offer it to their employees.
Paid sick leave
98 or 51.9 percent of the 189 participating organizations reported having a sick leave program for their employees while 91 or 48.1 percent do not have.
Long term disability
Only 11 or 5.9 percent of 186 participating organizations said they offer long term disability programs to their employees while 175 or 94.1 percent do not.
Premium Pay
Only 12 or 6.6 percent of the 183 participating organizations offer premium pay to their employees while 171 or 93.4 percent do not. The types of premiums organizations offer include the graveyard shift, holiday premium, holiday and afterhours, international premium, language pay, midnight shift, night differential, regular premium, supplemental pay, swing shift, and completion of one year contract.
Vacation benefits
114 or 62.3 percent of 183 organizations that participated in the benefit survey said they offer organized vacation benefit plans for their employees while 69 or 37.7 percent do not. One organization reported offering two months vacation with one month pay, one organization says it offers no vacation but with pay and air fare home, and one organization reported giving 20 days vacation after 31 years of service.
Bonuses
Only 39 or 20 percent of 195 participating organizations offer regular pay bonuses reportedly to be only broadly based on individual performance or achievement. 33 or 16.9 percent reported giving bonuses sometimes, and 123 or 63.1 percent says they do not pay bonuses to employees.
Automobile allowances
40.5 percent or 77 out of 190 participating organizations provide automobile allowances to specified employees while 113 or 59.5 percent reported they do not offer automobile allowances.
Housing allowances
101 or 52.9 percent of 191 participating organizations reported that they offer housing allowances to specified employees. The remaining 90 or 47.1 percent says they do not have housing allowances. Some companies provide monetary housing allowances range from a minimum of $50 a month to $2,500/month maximum.
Benefits/compensation ratio
31 or 16.8 percent of 184 participating organizations reported they calculated or estimated their benefits/compensation ratio while 153 or 83.2 percent said they do not.
401(k) Retirement Savings Plans
Only 72 or 38.1 percent of 189 participating organizations reported having a retirement savings plan for their employees, and 117 or 61.9 percent do not have.
As for other retirement benefits other than the 401 (k) plans only 26 out of 189 participating organizations reported having this benefit while 163 organizations or 86.2 percent do not have a retirement benefit program.
The “2011 Survey of Wages and Salaries among Specified Jobs and Organizations in the CNMI” can be found at www.saipanchamber.com.
