Employers alter plans for 2009 salary expenditures
In a new update to Mercer’s 2009 Compensation Planning Survey, approximately 50% of the 175 survey participants report they plan to reduce salary increases for 2009. Responding to economic trends, employers report they will modify planned increases by 0.75% to approximately 3% from the national average 3.8% increase planned in the second quarter.
Reductions are planned across most employee groups, industry sectors and geographies. Even in Alberta, those employers who do plan to cut back call for the same 0.75% decrease to 2009’s salary increase plan.