Get access to the exclusive HR Resources you need to succeed in 2018.
Sign up for free email newsletters and get more SHRM content delivered to your inbox.
Is your employee handbook keeping up with the changing world of work? With SHRM's Employee Handbook Builder get peace of mind that your handbook is up-to-date.
Build competencies, establish credibility and advance your career—while earning PDCs—at SHRM Seminars in 14 cities across the U.S. this fall.
Gain the skills you need to rise to the next level in your career. Jon us at SHRM's Leadership Development Forum, October 2-3 in Boston.
Emerging giants led among survey group in 2014 total salary budget hikes
Members may download one copy of our sample forms and templates for your personal use within your organization. Please note that all such forms and policies should be reviewed by your legal counsel for compliance with applicable law, and should be modified to suit your organization’s culture, industry, and practices. Neither members nor non-members may reproduce such samples in any other way (e.g., to republish in a book or use for a commercial purpose) without SHRM’s permission. To request permission for specific items, click on the “reuse permissions” button on the page where you find the item.
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.
Please sign in as a SHRM member before saving bookmarks.
Please purchase a SHRM membership before saving bookmarks.
An error has occurred
Recommended for you
Become a SHRM Member
SHRM’s HR Vendor Directory contains over 10,000 companies