3% avg salary hikes poinai…employers are allo ating 4.6% anta

[Spartan]

Employers are planning to increase their salary budgets by 4.6% next year, the highest expected annual jump in 15 years.

That’s according to the latest international survey from consulting firm Willis Towers Watson, which included responses from 1,550 US employers. The survey was conducted from October 3 to November 4.

A large majority of the organizations attributed the big bump to inflation and a tight labor market. 

But with headline inflation still at 7.7%, any raise an employee gets below those levels effectively means they will be earning less because their paycheck won’t buy as much. 

Often what companies expect to pay more for a given year and what they end up paying differs based on market conditions. This year, for instance, 70% of organizations surveyed by Willis Towers Watson said they spent more than they originally planned. Overall, employers ended up spending 4.2% more on salaries this year than in 2021.

What does that mean for your raise?

Employers indicated they will use a host of ways to fund bigger salary increases next year: 21% said they would reassess their total rewards package to ensure it has the biggest impact on retention and engagement; 17% said raise prices; and 12% said restructure and reduce headcount.

How employers will distribute the additional funding for salaries won’t be even across the board. 

 

Some workers will get much higher than the average. It will depend on several factors, such as employee performance and the going market rate for a position, which may require upward adjustments for existing staff. New pay transparency laws will add to the pressure to offer those adjustments.

[Anta Assamey]

Kanisam gurthinchi penchutunaru ... 

[pandu123b]

salary budgets, not necessarily for all of employees will get 4.6 kada bro!!

but positive news nevertheless..

[ARYA]

1 hour ago, Anta Assamey said:

Kanisam gurthinchi penchutunaru ... 

Nuvvu already top 0.1% la unnav kada inkem penchutaru 

[appaji_pesarattu]

6 minutes ago, ARYA said:

Nuvvu already top 0.1% la unnav kada inkem penchutaru 

Anna Compa ratio calculate chesthe ayana pay range ki 175% lo unnadu anta...

[guntoor_rathaiah]

4.5  and aove pencharu maa client ...

[former]

ekkada still 1 to 1.5 chesthunaru

[Ichigo]

1 hour ago, guntoor_rathaiah said:

4.5  and aove pencharu maa client ...

which company bro? assalu ee layoff times lo hikes, bonus peddaga ivvaru emo ani na doubt , but 4.5 ante good hike ane cheppali..

[Vaampire]

Inflation 10%. 4.6% ni madichi vallaney pettukomanu.