I also spotted some salary research worth noting.
According to WTW, employers plan to increase their salary budgets by an average of 4.1% next year. Surveys by Salary.com, Payscale, and WorldatWork place projected increases between 3.8% and 4.4%. That means most employees will see their earnings shrink next year after adjusting for inflation.
Workers will work the same for less pay among rising costs. Coupled with the market data from the previous story, owners and managers who compete for talent should know that keeping talent is just as important. Are your planned salary increases… enough?
This content is made possible by community-minded viewers like you
Join the Small Biz Thoughts Community to support independent journalism and get the raw Business of Tech interviews, Channel Intelligence briefs, monthly member calls and more. Member support is one way we sustain the costs of investigative work — from court filings to video editing — while keeping the core reporting open to all.
Thank you
Join the Small Biz Thoughts Community