Despite the fact that the economy has been humming along, workers just aren't going to see much benefit from it.
That's according to an HRDive report, which says that pay increases will pretty much stagnate over the next year. This discouraging news comes from a new Aon research study that projects increases in base pay at just 3.0 percent in 2018, up just a hair from 2.9 percent in 2017.
Workers who don't stand out from the crowd as high performers might be getting even less in times to come, with more than two thirds of employer survey respondents saying that they're taking some type of action to increase merit pay differentiation in 2018. While 40 percent indicate that they're reducing or eliminating increases for lesser performers, 18 percent say they're using a more aggressive, highly leveraged merit increase grid and 15 percent are setting more aggressive performance targets.
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.
