March 27, 2025
BEDFORD, Ind. (March 21, 2025)— Radius Indiana releases results from their 2024 Wage and Benefit Survey; findings show a stabilization in the labor market from previous pandemic-related disruptions, foreshadowing a positive economic outlook for the Southern Indiana region.
In contrast to the instability of the labor force seen in the 2022 Wage and Benefit Survey results, the 2024 survey results indicate a settling down from the disruption of the pandemic years for employers in the Radius Region (Crawford, Daviess, Dubois, Greene, Lawrence, Martin, Orange, and Washington Counties). Employers from Jackson and Perry Counties also participated in the survey. Workforce turnover decelerated significantly from a 24% staff turnover rate in 2022 to a reported 11% staff turnover rate in 2024.
For many employers in the region, the survey results provide valuable data on the state of the labor markets they operate in. Audrey Brames, Director of Marketing and Sales at Big Splash Adventure, discussed this point, commenting “The survey provided by Radius is beneficial when looking at current employment wages at our tourism based businesses in Orange County. It ensures that we are competitive with other employers in the market and shows areas where improvement is needed.”
Staying competitive as an employer may be essential for keeping employees satisfied and reducing staff turnover. In the 2024 survey, participating employers may have seen a decrease in staff turnover in part because they gave raises in the preceding 12 months and plan to give more raises in the next 12-month cycle— a fact indicated by 85% of participating firms. Furthermore, 57% of participating companies expect to hire additional staff in the coming year, while 24% expect to neither hire nor lay off staff.
This regional economic outlook is essential for not only businesses currently located within the Radius counties, but also for those looking to expand or locate a business in the area. Bob Grewe, Executive Director of Daviess County Economic Development Corporation, shed further light on this point, stating “The Radius Indiana Wage and Benefit Study is of great value to businesses who are considering the area for a new business enterprise. The Study can provide unique insights into compensation that businesses cannot find in standard government generated labor reports.” He continued, saying “It also helps existing companies understand how they can better compete for talent by having a more in-depth understanding of compensation in the region. We are very appreciative of our companies that take time to complete the survey.”
The Radius Region saw growth in employee compensation over the last two years, with a basket of 21 representative job titles showing an average wage increase of 20% from 2022 to 2024 (salary changes ranged from a 59% increase to a 21% decrease in wages). Even so, overall wages in southern Indiana continue to be lower than the national averages by 17%.
Radius Indiana thanks firms who participated in the 2024 Wage and Benefit Survey, helping to give a better view of the economic outlook of the region for employers. Full copies of the survey results have been distributed to those firms that participated in the survey.
The next Wage and Benefit Survey is expected to take place in 2026. To learn more about the Radius Indiana Region, including resources available for employers looking to locate in the region, visit www.radiusindiana.com.
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ABOUT RADIUS INDIANA: Radius Indiana is a regional economic development partnership representing eight counties in Southern Indiana: Crawford, Daviess, Dubois, Greene, Lawrence, Martin, Orange, and Washington. Formed in 2009, Radius Indiana also serves as a point of contact in Indiana for Naval Support Activity Crane and leads regional collaboration by leveraging the diverse assets of Southwest Central Indiana to drive attraction, retention and expansion of business, thereby increasing employment and investment opportunities and quality of life within the region.