Sibson Consulting Reports 2014 Compensation Planning Salary- Increase Budgets

A new article by Sibson Consulting'sJason Adwin, "Compensation Planning for 2014: Salary-Increase Budgets Remain Stable," indicates that salary-increase budgets for 2014 will rise only slightly from the previous year, continuing a trend that is now three years old.

With inflation and the economy showing slow growth, it appears merit budgets have settled into a "comfort zone" of approximately 3 percent.

According to Adwin, "As long as organizations maintain confidence in their financial forecasts and there is general stability in the global economy, this trend is likely to continue. Salary-increase expenditures could quickly be derailed, however, by volatility generated by hot-button issues. These include lingering concerns over the economy, government-influenced instability (e.g., future government shutdowns) uncertainty regarding U.S. tax policy, and the impact of continued high unemployment."

Sibson's Annual Compensation Planning Analysis of projected and actual salary-increase budgets and structure salary-range adjustments provides data for three broad job classifications - executive, exempt and non-exempt, in 11 distinct industry groups - banking and finance, education, health services, information services/telecommunications, insurance, manufacturing, nonprofit, retail, services, transportation and utilities.

Sibson Consulting, a member of The Segal Group, provides strategic human resources solutions to corporate and non-profit employers and professional service firms.

Report Information:

http://www.sibson.com/publications/perspectives/ volume_21_issue_3/compensation-planning.html

http://www.sibson.com

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