Tax reform is also giving employers another reason to advance-fund their defined-benefit pension plans, as part of a growing list — settlement strategies, PBGC premiums, risk reduction, she adds.

More than half of employers (55 percent) plan to use the windfall in a broad-based fashion, while 15 percent will address existing pay gaps; 21 percent will allocate savings for specific job families, and 33 percent will allocate in other ways.

Organizations' timeframes for announcing changes varies: 14 percent of employers have already announced or provided new employee compensation or benefits, while 26 percent of employers are planning to announce changes in 2018 and 60 percent are still determining their plans or are not planning for changes.

Of those who have or are considering changes to compensation and benefits structures, the areas under most serious consideration are as follows: 26 percent said increases to base pay; 25 percent said contribute more to 401(k); 22 percent said one-time cash payment; 15 percent said enhancing employee training; 14 percent said increasing bonus targets.

Aon also surveyed 2,079 representative workers, asking them what they want their employers to spend the tax reform money on, and found that twice were more likely favor a pay increase versus other options. A majority (65 percent) want an increase to their annual/hourly pay, while 32 percent want their employer to invest in business for ne locations, products or solutions. A fifth (22 percent) want a one-time cash payment; 11 percent want their employer to contribute more to their 401(k); and 20 percent say employers should let employees choose how they want to receive benefits from the tax savings.

If given a cash payment, 51 percent of employees would save it, while 30 percent would pay down credit card bills and 7 percent would spend it.

The worker survey also found that employees strongly prefer 401(k) over profit sharing – 69 percent would rather receive 1 percent more in 401(k) over 2 percent in profit sharing. If employers use the tax savings to tweak health care benefits, 50 percent of employees want lower monthly premiums.

Meanwhile, stock analysts believe employers won't be as generous to their workers. Morgan Stanley analysts expect companies to pass only 13 percent of Trump tax cut savings directly to workers, with more going toward share buybacks and dividends, New York Times reporter Jim Tankersley tweeted last week.

The analysts were asked, "On average, how are companies likely to allocate their tax savings?" Their responses: 13.2 percent would go toward labor compensation, 42.9 percent, share buybacks and dividends; 18.6 percent, M&A; 17/3 percent, capital spending; and 8 percent, balance-sheet repair.

Even if business' tax cut savings won't immediately be given to workers in the form of raises, bonuses or enhanced employee benefits, the tax cuts could ultimately benefit workers, according to CNN. If businesses use their new tax savings to invest more in their companies, more jobs will likely be created, likely resulting in higher wages.