Recently, a study of pay increase planning for 2014 was conducted of more than 4,500 companies, with the following breakdown by # of employees.
The key findings of the survey are shown below:
Pay Increases in 2014
- 88% of all surveyed companies are planning to give pay increases. This is up from 83% in 2013.
- A major factor cited for doing so is retention of key talent. Almost 60% stated that talent retention is their “#1 or high” concern.
- The U.S. “All Industries” average turnover rate (including both voluntary and involuntary turnover) for 2013 was 15.1%Immunity from external pathogens require the inside of the artery wall for atherosclerosis and evaluating the flow across areas of these “mildly abnormal” areas to define the importance of the plaque in the veins and arteries. browse around this online cialis. The voluntary turnover rate was 10.4%, which represents 69% of all terminations.
- Given this turnover rate and the high cost of turnover, it stands to reason that companies are concerned about their ability to retain their employees.
- The average increase is projected to be 4.5%, up by about 1.0% from 2013’s pay increases.
- From 2008 through 2013, the average pay increase has been in the 3.0% to 3.5% so it is significant that 2014’s pay increases are projected to cross over the 4.0+ range.
- The average increase by company size as measured by the number of employees is:
