That’s according to the latest international survey from consulting firm Willis Towers Watson, which included responses from 1,550 US employers. The survey was conducted from October 3 to November 4. A large majority of the organizations attributed the big bump to inflation and a tight labor market. But with headline inflation still at 7.7%, any raise an employee gets below those levels effectively means they will be earning less because their paycheck won’t buy as much.
What does that mean for your raise? Employers indicated they will use a host of ways to fund bigger salary increases next year: 21% said they would reassess their total rewards package to ensure it has the biggest impact on retention and engagement; 17% said raise prices; and 12% said restructure and reduce headcount. How employers will distribute the additional funding for salaries won’t be even across the board. Some workers will get much higher than the average.
😂 Layoff 50% employees then give 5% raise to the remaining, meanwhile expecting double than usual work.
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Businesses can't keep up with inflation. Costs go up to stay afloat and often employees don't appreciate that... Out with sleepy Joe admins ability to print money and make ours worth less.
Hourly? Not just salaried?
Will off set the large layoffs coming.
If they wait they won't have to. Musk is rapidly increasing the unemployed.
Hooray! We'll get 13.00 an hr instead of 12.50 with 50 cent annual raises from companies worth 2b dollars with CEO's making 20 mil a year! THANK YOU CORPORATE AMERICA--so generous!
Yeah. Right. Believe it when I see it.
Was this supposed to be a puff piece showing how Dems have improved wages lol 😂🤣
All to be eaten up by inflation and losses in retirement accounts. This is NOT good news.
8% inflation. 4.6% salary increases. Yeah your paychecks will be bigger, now you’ll be able to eat two packets of ramen for dinner instead of only one
A survey... lmfao
While gas, food is 20% due to biden bs policies
Help me tell my story.
Good news
what about your platform?
It's called a cost of living increase.
Lol
Record increases that are half as high as inflation.