By Dan Walter, CECP, CEP – President and CEO of Performensation.
Are we really doing anything? We create salary structures and write job descriptions. We organization our data and provide reports up and down the organization. We do a lot, but how much of it is making us competitive in a tight talent market?
There’s the “annual increase” –sometimes we even call it a “merit increase.” According to one study, at the beginning of 2016 companies predicted their pay budgets would increase 3% and at the end of the year they reported the actual increase was 2.6%. Similar reports from several prior years had very similar results. The results match the expectations — year after year.
>> Continue reading on the new HR West Blog.
Meet Dan Walter at the NCHRA Compensation Conference at the Wells Fargo Annex Building in San Francisco on June 23rd.