MCLEAN, Va. — NADA University, the education and training arm of the National Automobile Dealers Association (NADA), unveiled a new report covering car and truck dealership employee compensation, benefits, retention and turnover, and hours of operation and work schedules.
Most key dealership positions emphasized in the report had higher individual average salaries than the median household income in their regions, and all exceeded the national average individual wage index. Also, job retention, turnover, and tenure were more favorable than the national norms in most key job categories analyzed.
The report also indicated that turnover rates for sales consultants in a number of regions were close to, or exceeded, the average of 39.9 percent for all industries.
Tenure for sales consultants is below the national job average of 5.1 years in all regions, while tenure for F&I directors/managers, sales managers, and service advisors is below national levels in some regions. Additionally, there is a positive connection between years of tenure and increased new- and used-vehicle sales.
There appears to be a strong correlation between dealership sales hours and new-unit sales, according to the report. Increasing dealership used-vehicle sales has a smaller impact on compensation than increasing new-vehicle sales.
The new report presents an overall analysis of 2012 Dealership Workforce Study. The study, based on 350,000 payroll records submitted by nearly 2,500 dealerships, vastly improves and expands the former NADA biennial compensation study in a variety of ways, say officials.
"This is the most comprehensive dealership workforce report ever produced in our industry,” said NADA Chairman Bill Underriner. “We appreciate the dealerships that participated and the invaluable support we received from the state and metro ATAEs (Automotive Trade Association Executives). The level of detail and planned annual updates will prove to be an indispensable resource to help dealers manage their workforce more effectively in a competitive marketplace.”
The 2012 Dealership Workforce Study Industry Report was prepared by Northwood University, which celebrates a 50-year partnership with NADA in providing automotive marketing and management education.
“This is a groundbreaking report packed with data and trends information that will give dealers a much clearer picture of how they stack up against their competition and the entire industry in terms of attracting and retaining top talent,” said Ted Kraybill, president and founder of DeltaTrends, which designed the Dealership Workforce Study.
Dealerships interested in purchasing the 2012 Dealership Workforce Study Industry Report can visit nadauniversity.com/workforcestudy.