Paying for Performance and 2014 Raises: What Others are Planning
A new survey looks at how employers are setting their salary budgets for 2014. Based on survey results, it appears that most employers expect to hand out raises similar to those given in 2013. But at your organization, does it matter enough when the time comes to hand out raises? The latest General Industry Salary Budget Survey of 910 employers from Towers Watson Data Services indicates employees whose performance ratings are below average can look forward to raises next year in the 1.3 percent range, which is slightly below the projected national inflation rate (based on the Consumer Price Index). Keep reading to see some analysis of the numbers involved in this important issue.