Some good news as year end nears: a new survey of 555 large U.S. employers from Hewitt Associates reports that companies are keeping their 2010 salary increase budgets relatively intact.
As the table below indicates, employers are making only minimal adjustments to their salary increase budgets from the original levels set earlier this year:
Additional good news can be found in the dramatic drop in companies planning salary freezes or reductions. While Hewitt's research showed that 48% of employers froze salaries in 2009, just 17% are considering doing so in 2010. Not one company reported plans for salary reductions next year (compared to 10% in 2009).
Well, that is good news!! Maybe this difficult time is over after all.
Posted by: Kingsley Tagbo | November 23, 2009 at 02:25 PM
Encouraging news... Thanks for sharing Ann!
Posted by: Chris Young | November 30, 2009 at 06:34 PM
Glad that you both found it encouraging and helpful!
Posted by: Ann Bares | November 30, 2009 at 07:19 PM