Category: Compensation

Preliminary 2024 Salary Budget Increase Projections

August 24, 2023 By: Lauren E. B. Belcher Although WorldatWork’s anticipated annual salary budget survey has yet to be published at the time of this writing, we are beginning to see several preliminary predictions for salary budget increases, across many...

“Twenty-Year High”

For the first time in over two decades, the average salary budget increase percentages significantly increased in 2022 and are expected to remain at the twenty-year high in 2023. WorldatWork is projecting average salary budget increases at 4.1 percent overall...

Average Falling

For the first time in over ten years the average salary budget increase is projected to decrease. Congruent with the coronavirus pandemic, beginning in the United States in March 2020, unemployment rates saw a drastic rise, jumping over ten percent,...

2020 HR Trends and Economic View

Its finally here… the United States Department of Labor’s (DOL) new overtime rule is officially in effect. The DOL reported that this would cause over one million employees to become newly eligible for overtime.  Effective as of January 1st, this...

Salary Budget Stalemate

Unemployment at the end of August 2019 was reported by the United States Bureau of Labor Statistics (BLS) at a record low of 3.7 percent and the United States Bureau of Economic Analysis (BEA) reports an increase rate of 2.0...

Gridlocked – 2019 Salary Budget Increase Projections

Our economic growth is flourishing! The United States’ unemployment rate is as low as 3.9 percent, as reported by the United States Bureau of Labor Statistics (BLS) and our real gross domestic product (GDP) increased at a rate of 4.2...

The Importance of Being Current

With the economy still lulling, many organizations may overlook the importance of keeping their salary structure current, posing the question, why is developing a comprehensive compensation program so important? Throughout this piece, we will discuss why an organization should become...

Don’t Judge a Title by its Job

As compensation consultants working across a number of different industries, we see a lot of different positions and position titles. As part of our position and evaluation review process revising and cleaning up titles has become an initiative that spins...

Concerns About Employee Retention?

With the forecasted economic rise in 2011, employers are increasingly worried about losing top performers. While the economy has been down, companies have focused on nonmonetary rewards for employees, including career development and training. However, with the economy rising, top...

Variable Pay the New Merit?

In light of the current economic conditions along with the recent regulatory changes, compensation and human resources professionals may ask "what does this mean for variable compensation"? We recently developed and presented on this topic at the Atlanta Area Compensation...
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