Article 2010 Pay Increases

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Unformatted text preview: Excerpted from: http://www.hewittassociates.com/intl/na/en-us/AboutHewitt/Newsroom/PressReleaseDetail.aspx?cid=7126 Hewitt Study Finds That Salary Increases Were Lowest in 33 Years August 11, 2009 LINCOLNSHIRE, Ill. - While the economic downturn prompted U.S. companies in 2009 to grant employees the lowest base salary increases in 33 years, funding for variable pay was at an all time high, according to a recent survey by Hewitt Associates, a global human resources consulting and outsourcing company. For 2010, employees can expect to see a similar mix of compensation payouts, with variable pay budgets projected to remain stable and base salary increases rising only slightly. Hewitt's survey of 1,156 large organizations reveals that base salary increases dropped below 3 percent for the first time since Hewitt started tracking the data in 1976. Base salary increases for salaried exempt employees 1 in 2009 were just 1.8 percent and are expected to inch up to 2.7 percent in 2010....
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