Merit Budgets For 2012 Up

Salaries will increase by a median of just 2.8% in 2012, up slightly from 2.6% in 2011 and 2010, according to Towers Watson Data Services.

 Analysts for several other research organizations also predict moderate wage growth. For example, researchers for WorldatWork and Hay Group expect a median increase of 3% next year. Analysts for the Society for Human Resource Management’s custom benchmarking service project a median salary increase of just 2.3% for 2011-12. Expect greater increases for star performers.

 Merit increases will vary depending on geographical location and position in the company. Begin addressing your compensation plans for 2012 now.

What is your company planning?

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