2006 Salary Increase Planning
Now is the time when all of the bean counters start thinking about raises for next year. According to this article in Fortune, Hewitt predicts the following:
- Salaried employees - 3.6%
- Executive employees - 3.8%
- Non-union hourly - 3.5%
Variable compensation will increase to approximately 11.4 % of payroll, up from 9.5% in 2004. The article further notes: "Cash-strapped companies, the Hewitt report notes, "are more often turning to [offering their best people] flexible work arrangements (52%), retention bonuses (41%), stock awards (30%), and part-time work options (30%)."
Moral of the story - now's the time to see about telecommuting. I read earlier today that gas prices will not return to their pre-hurricane levels for at least 6 months.