86% of workers will get raises this year … will you?
Brrrr! 2009 was “The Year of the Salary Freeze” at many companies. The good news: Things will be thawing in the new year … for most people.
What a difference a year makes! Last year, nearly one in three employers (30%) just said “no” to salary increases for their people.
Looks like companies of all sizes and in all industries are feeling more optimistic this year.
The number of firms freezing salaries has been slashed going into 2010. Now just 14% of companies say they’ll hold steady on compensation.
Reality check: That doesn’t mean organizations will be lavishing huge raises on people.
So how does your company compare to your peers in terms of salary benchmarks for 2010? Check out these new stats from Mercer Consulting’s 2009/2010 U.S. Compensation Planning Survey Update:
Of course, certain industries will buck the trend. Companies in Education, Durable Goods, Services and Energy are all more likely to keep salaries frozen at a rate above the 14% average (30%, 20%, 18% and 15% respectively).
- Share on
Free Training & Resources
Further Reading
Nobody really wants to dock an employee’s pay. But sometimes, it’s the only step you can take for the sake of your company̵...
The IRS has finalized the tax year 2026 Form W-2, solidifying more of the reporting requirements established by federal legislation passed ...
Companies with funds tied up in the recent bank collapses had to scramble to pay their employees on time. No one wants to go through that a...
Earned wage access, also known as on-demand pay, is being leveraged by your peers as a key recruitment and retention tool for workers who m...
Real-time payments are becoming a must-have for finance teams aiming to modernize payroll operations. With RTP and FedNow, organizations ca...
With TY 2023 forms out the door, you may be thinking about next year-end and what changes you can expect on Form W-2. IRS posted the fin...
