No better, no worse: CFOs hold steady on benefits & comp levels
What moves are the majority of finance chiefs making when it comes to their company’s benefits and compensation?
Not many.
That’s what a recent national survey of U.S. CFOs and senior leaders revealed. According to the Grant Thornton, LLP, survey, 53% of CFOs said that salaries at their companies won’t change for at least six months.
Another 32% said they actually plan to cut salaries, and only 15% plan to boost workers’ pay.
The study also found most firms plan to keep employee bonuses and 401(k) match contributions the same.
When it comes to employers’ 401(k) match contributions, the study found:
- 74% of employers are keeping their 401(k) match the same
- 21% are reducing 401(k) match contributions, and
- 5% increasing the 401(k) match.
In terms of employee bonuses, the study found:
- 47% of firms plan no change to employee bonuses
- 44% plan to decrease bonuses, and
- 9% plan to increase employee bonuses.
Readers, do these findings seem consistent with what your company is doing? Let us know in the Comments section.
- Share on
Free Training & Resources
White Papers
Provided by Anaplan
White Papers
Provided by Personify Health
Further Reading
Employees may not understand lifestyle spending accounts (LSAs) as well as you think. That can lead to questions or just confusion. Thi...
Looks like AI won’t be taking the place of all those vacant jobs after all. CEOs at bigger companies — some who laid off a lot ...
IRS gave an update on several initiatives that have been in the works longer than expected. The Service’s latest goals are contained i...
In 2022 about a dozen states put law changes – some at the constitutional level – directly into the hands of the voters on Elec...
Employee experience – including employee mental health – has become a higher priority for many organizations, according to rese...
As you’re prepping to file Forms W-2 or Forms 1099 for TY 2023, you know it’s tough to avoid all errors. So, it helps to be pre...
