U.S. employees can expect median base salary increases of 2.8 percent in 2011, according to a new Hay Group survey. This compares to median actual base salary increases of 2.4 percent in 2010. Planned increases in 2011 are also at 2.8 percent for management/professional and support positions. Executives and skilled trade jobs come in slightly lower at 2.7 percent.
"Relatively speaking, a forecasted median 2011 base salary increase of 2.8 percent is good news for employees who, over the past two years, saw the lowest salary increases in decades," said Tom McMullen, Hay Group's North American Reward Practice Leader. "Hay Group's survey also points to a positive trend in organizational staffing. We found that the number of organizations increasing their staffing levels is double that of organizations that are decreasing their staffing levels."
Hay Group's research also indicates that many of the cuts organizations have made to labor costs due to the recession have already happened. The percentage of organizations using or considering significant labor cost reduction items is considerably lower than data reported 18 to 24 months ago.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.