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When the economy is unstable, employers are faced with difficult decisions around staffing, pay and benefits. Find the latest news and members-only resources that can help employers navigate in an uncertain economy.
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Employers in the U.S. plan to boost salaries an
average of 4.6 percent in 2023, up from 4.2 percent this year, according to a
Employers say inflationary pressures and the ongoing challenges of finding and
keeping workers are the main reasons for the higher projected increases.
Indeed, 3 in 4 of the 1,550 U.S. employers in the latest Salary Budget Planning
Report by consultancy WTW say they continue to experience problems attracting
and retaining workers. The survey was conducted from Oct. 3 to Nov. 4, 2022.
Read the article:
Typical U.S. Pay Increase Projected to
Hit 4.6 Percent in 2023
SHRM | Nov 20222023 Salary Budgets Projected to Stay at 20-Year High but Trail InflationWage Growth at Small Businesses Stays StrongU.S. Employers Boost Pay Budgets Despite Recession ConcernsSHRM | Aug – Sep 2022Employers
plan largest raises since 2007 — is it enough?
Yahoo! Money | Nov 2022Say
goodbye to the standard 3% raise
Fortune | Sep 2022
looks to be a ‘banner year’ for salary increases
HR Executive | Sep 2022
Half of U.S. Companies Are Planning to Raise Salary Increase Budgets in 2023
CPA Practice Advisor | Sep 2022
of pay raise can U.S. workers expect in 2023?
CBS News | Sep 2022 Please complete the brief survey near the bottom of this page.Surveys Some or all studies may require download and/or purchase.2023 Salary Increase Budgets Projected
to Be the Highest Since 2001
The Conference Board | Sep 20222022 Policies, Practices & Merit
Survey Results (includes 2023 forecasts)
Empsight | Aug 2022 U.S. respondents report, on average, a planned base salary increase of 3.8 percent in 2023. Among some industries, however, base salary increases reported by respondents may surpass 4.5 or even 5 percent for their employees. 2022-2023 Salary Budget Survey PayScale | Jul 2022Salary.com Data Indicates the Days of
Annual Salary Increases In the 3% Range Are Over
Salary.com | Sep 2022Salary
Budget Survey 2022-23: Top-Level ResultsAverage Salary Increase Budgets Were
4.1% in 2022 and Projected at 4.1% in 2023
WorldAtWork | Aug 2022 Companies are budgeting an overall average increase of 4.1 percent for 2023Tight labor market drives U.S.
employers to boost 2023 pay raises 2022 Salary Budget Planning Report - Global (July Edition) WTW | Jul 2022
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