The Bureau of Labor Statistics – Your Compensation Companion

Description

North Star SHRM will be hosting a seminar titled: The Bureau of Labor Statistics – Your Compensation Companion.  This is a virtual presentation on Wednesday, July 14, 2021, from 8 am to 9:30 am. All North Star SHRM members are invited to attend. In addition, all Elk River, Monticello, and I-94 West Chamber members are invited to attend. There is no cost to attend. The target audience for this seminar is HR professionals and any business owners. 
 
The presentation will go over the basic design of the Bureau’s website and then focus specifically on the data available from the National Compensation Surveys, including the Employment Cost Index (ECI), Employer Costs for Employee Compensation (ECEC), the Employment Benefits Survey (EBC), and the Occupational Requirements Survey (ORS). “We” will then go over how to retrieve data from these programs.
 
Program Descriptions:
National Compensation Survey (NCS) Overview
The (NCS) is an establishment-based survey that provides comprehensive measures of (1) employer costs for employee compensation, including wages and salaries, and benefits, (2) compensation trends, and (3) the incidence of employer-sponsored benefits among workers. The NCS also collects data and produces estimates on the provisions of selected employer-sponsored benefit plans.
 
Employment Cost Index (ECI) Overview
The (ECI) are indexes measuring change over time in labor costs.
 
Employer Costs for Employee Compensation (ECEC) Overview
The (ECEC) measures level of average costs of employees per hour worked.
 
Employee Benefits Survey (EBS) Overview
The (NCS) and (EBS) produces comprehensive data on the incidence (the percentage of workers with access to and participation in employer provided benefit plans) and provisions of selected employee benefit plans. The survey covers a broad range of benefits including holidays and vacation, sick leave, health and life insurance, and retirement plans. Details of employer-provided health and retirement plan provisions are also available.
 
Occupational Requirements Survey (ORS) Overview
The (ORS) is a product of the Bureau of Labor Statistics (BLS). The ORS provides job-related information regarding physical demands; environmental conditions; education, training, and experience; as well as cognitive and mental requirements for jobs in the U.S. economy.
 
Learning objectives:
 

• Have audience gain recognition of the Bureau of Labor Statistics, the scope of BLS products and services, and the broad use of these datasets.
• Educate audience about the primary programs data provided by HR offices are collected for and its uses.
• Educate audience about the retrieval and application of the data collected.
• Establish working relationships with regional SHRM members and local BLS information offices.

This seminar will be presented by Katherine Males Seelow, Economist with the Bureau of Labor Statistics in Chicago, Illinois.
 
Katherine has been an economist in the Bureau of Labor Statistics Economic and Analysis Information Office since 2014 and with the Federal government for 20 years.  Her previous Federal employment includes the Department of Homeland Security (2007-2014) and the United States Army (2000-2006).  She graduated from Northeastern Illinois University in 2009 and continues taking classes that run the gamut from Calculus to rock climbing to yoga because they interest her.