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New 2014 Lindex® Scores – Find out how to Obtain Yours!

2014 Lindex GaugeWe’ve just released the new Lindex® scores based on our 2014 Iowa Employer Benefits Study©. Introduced in 2013, the Lindex is an innovative tool that allows Iowa employers to distill voluminous and complicated benefits data into one relevant number.

An organization’s Lindex score will help Iowa employers:

  • Determine the competitiveness of their benefits package.
  • Attract and retain a high-quality workforce.
  • Decide whether benefit changes are required to keep your employee benefits competitive.

The Lindex is a composite score used as a reference when determining the quality of benefits offered by Iowa organizations. This index is the result of a sophisticated calculation based on the benefits data submitted by 1,002 Iowa organizations from the latest 2014 Iowa Employer Benefits Study©.

Calculated once a year, the Lindex ranges from 0 to 100, with low scores reflecting fewer benefits offered at a higher cost to employees, while higher scores indicate more benefits being offered at a competitive cost.

In 2014, the overall Lindex score for Iowa employers (regardless of employer size and industry) is 74. Last year’s overall Lindex score was 72. The Lindex score will vary based on the employer size and industry. For example, employers with fewer than 10 employees have a Lindex score of 61, while employers with at least 1,000 employees averaged 82. Employers in the retail industry averaged 65, while government employers averaged 83.

Below is a summary of the Lindex scores based on organization size:

2014 Lindex by Organization Size

 

Below is a summary of the Lindex scores based on industry:

2014 Lindex by Industry

 

It’s important to note that an organization with a Lindex score of 68 might appear to be somewhat low when compared to the overall statewide score of 74, but if this score is above the average Lindex score for similar organizations based on size and industry, then it could be considered a good score for that organization.

To purchase a copy of the 2014 Iowa Employer Benefits Study© and/or Lindex Online benchmarking tool, click here.

To learn more about the Lindex, and how your organization can discover/attain/retrieve your own Lindex score, please visit the Frequently Asked Questions (FAQ) section of our website.

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Comments

  1. David,
    Is this somehow indexed to how much employees are paid? For example, if I am in the manufacturing industry and I score a 70 but I pay higher salaries than others in my sector, is this taken into account?
    Thanks as always for your fine work.

    • Thank you, Maurie. The Lindex is determined strictly from the reported benefits of the survey respondents in our annual Study. Ultimately, each organization will need to assess how competitive their pay is with other ‘similar’ employers (most likely based on size, industry and location) – and then determine how competitive they wish to have their benefit offering. Pay and benefits, for most all employers, go hand-in-hand with one another. Some employers prefer to provide more competitive pay, and then ‘relax’ the benefits they offer. While other organizations look to suppress the pay but enhance their benefit offering. This is really a cultural philosophy for each organization. Hope this helps!

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