Salary Increase Budgets 2009: Financial Crisis Edition
Corporate Authorship TCB
About a quarter of The Conference Board matched case sample of companies reported change in their salary budgets, the clear trend being downward. Among the 195 matched case companies participating in the survey, 27.2 percent say that their 2009 salary increase budget has changed since it was first approved. Even though this crisis created a tipping point for salary adjustment decisions, a large number of companies were already feeling economic pressures on payroll. Almost half (46.1 percent) report a longer term economic trend prior to the immediate crisis is a contributing factor to the salary changes they’re making.