First Business

September 14, 2010

Yearly Survey Shows Employers Still Planning Salary Budget Increases

The past 30 months have presented economic challenges most of us have not seen in our lifetimes, much less our working lives.

During the past year, with many organizations continuing to struggle to survive or regain their footing and employees grateful for retaining their jobs, the question of pay increases hasn’t been a front-burner decision for most companies.

However, the recent WorldatWork (formerly the American Compensation Association) "2010-2011 Salary Budget Increase Report" states that employers responding to their survey generally indicate a "slow recovery," with the total salary budget increase for 2011 predicted to be an average (median) of 3 percent for all pay groups across almost all industries.

See page 8 at the following link to read the full article.

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