Companies Try to Limit Salary Bumps and Focus on Perks Instead

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Faced with high inflation and high turnover, many companies are looking to offer perks such as more time off or permanent work-from-home options as a way to limit how much they have to boost employee salaries

, rather than pay, are the priority. The company’s median salary is $100,524, according to its latest proxy filing.

The company plans to spend more on compensation this year than in 2021, including on merit-based increases for high performers, Mr. Cage said, but declined to say how much. He said Leidos is allocating “in the millions” toward new perks, benefits and training. Leidos earned $759 million in 2021, or 21% more than a year earlier.has also offered new perks, including offering meeting-free afternoons after 2 p.m. on Fridays, in part, so employees can have added flexibility with their personal lives.

“Employee salary is one portion of it, but it is a much bigger picture than that,” Ms. Fields said, referring to the company’s compensation package, which also includes equity grants for all employees. Profits rose 45% during the quarter ended Dec. 31, to $6.2 million.to keep pace with the run-up in inflation

Companies are already paying up to recruit new employees. Job switchers in December increased their salaries by 8% compared with what they previously made, according to Gartner.last year increased wages for all of its daycare providers and early-childhood educators by between 4% and 5% in response to the tight labor market, with some employees seeing high-single-digit percentage increases in their pay.

 

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Good forbid they should be willing to cut a little profit.

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