Not yet a Member?
HR Magazine is highlighting the next generation of HR leaders.
Is your employee handbook ready for the New Year? With SHRM’s Employee Handbook Builder get peace of mind that your handbook is up-to-date.
Attend a comprehensive, instructor-led review before you sit for your SHRM exam.
Learn to implement the complex changes and ensure compliance with the FLSA. 2-Week Virtual Seminar, Nov 29-Dec 8.
Emerging giants led among survey group in 2014 total salary budget hikes
India, China and Brazil averaged the highest 2014 total salary budget increases at 10.5 percent, 8.2 percent and 7.2 percent, respectively, among the 17 countries surveyed by total rewards association WorldatWork. The three countries are projecting similar salary increase budgets for 2015, according to preliminary findings from the WorldatWork 2014-2015 Salary Budget Survey, released July 8, 2014. The full survey results will be available in August.
Of the surveyed countries, only Australia and Italy reported a drop in budgets, each by a tenth of a percentage point. The reported 2014 average total salary budget increases by country are:
Alison Avalos, research manager for WorldatWork, said in a news release that the differences in planned pay increases between surveyed countries reflect the variance in economies and labor markets around the world. She explained that countries reporting the highest salary-increase budgets are not necessarily economic leaders and that developing countries experiencing a tight labor market, or those subject to mandatory pay increases, will generally report the highest salary hikes.
Avalos went on to say that, “since WorldatWork started gathering global data [in 2012], the rate of growth for all countries has been limited, indicating that there has been no major change in the degree of upward pressure on wages for any surveyed country.”
Roy Maurer is an online editor/manager for SHRM.
Follow him at @SHRMRoy
SHRM Online Global HR page
Keep up with the latest Global HR news
You have successfully saved this page as a bookmark.
Please confirm that you want to proceed with deleting bookmark.
You have successfully removed bookmark.
Please log in as a SHRM member before saving bookmarks.
Your session has expired. Please log in again before saving bookmarks.
Please purchase a SHRM membership before saving bookmarks.
An error has occurred
Recommended for you
HR Education in a City Near You
SHRM’s HR Vendor Directory contains over 3,200 companies