Compensation Resources, Inc. Releases Its 2013-2014 Annual Salary Budget Planning Survey
By: Paul R. Dorf, APD, CRI
Upper Saddle River, N.J. – July 17, 2013 – Compensation Resources, Inc. (CRI) has released the results of its 2013-2014 Annual Salary Budget Planning Survey. The purpose of this study was to obtain compensation data used for trending and planning purposes at companies of all sizes, locations, and industries. This survey reports data for average merit/salary increases, salary structure movement, short-term and long-term incentive plans, and total compensation package mix.
Data was compiled from survey questions that were developed by CRI and distributed to companies in over 16 industry classifications, including Manufacturing, Retail/Wholesale, Finance/Insurance, and Professional Services. The survey sampled data from a total of 180 organizations.
Survey results show the percentage of merit/salary increases continue to rise. This will be the third consecutive year with positive increases among five (5) employee groups surveyed: Executive, Management, Exempt, Non-Exempt, and Hourly. There was also a considerable increase percentage in salary structure movement projected for 2014.
As for current conditions, layoffs went down a few percentage points, staffing increases stayed in the 30% range, and cutbacks in pay dropped slightly.
Overall, the results show a steady improvement not only for merit/salary increases, salary structure movement, and current conditions, but also incentives.
This survey is available for purchase now at www.compensationresources.com, and you can view a free sample of the survey on the Annual Salary Budget Planning Survey page. The cost of the full version is $100.