Upper Saddle River, NJ (PRWEB) October 26, 2009
Compensation Resources, Inc. (CRI) has released the results of its 2009/2010 Annual Salary Budget Planning Survey. The purpose of this study was to obtain compensation data used for trending and planning purposes at companies of all sizes, locations, and industries. Data was compiled from survey questions that were developed by CRI and distributed to companies in over 20 industries, in addition to Not-for-Profit organizations. The survey sampled compensation data from a variety of organizations, collected in August and September 2009 from a total of 302 participants.
Companies continued to be very cautious in 2009 relative to their compensation budgets, and caution will persist into 2010. Not only have budgets been affected, but companies are still experiencing layoffs, hiring freezes, pay reductions, and givebacks. Recognizing that many companies have budgeted 0% for merit increases in 2009 and looking forward to 2010, CRI has reported results in two separate dimensions:
1. Zero's Included: Represents all participant responses, including those that indicated 0% salary increase budgets for 2009 and 2010. On average, reported 2010 merit increase budgets in this category range overall from 2.1% and 2.9% for the various employee groups captured.
2. Zero's Excluded: Represents responses from organizations that have provided salary increases in 2009, and budgeted for salary increases for 2010. On average, reported merit increase budgets for companies who have established a budget for 2010 range from 3.0% and 3.6% for the various employee groups captured.
In recognition of the uncertainty in the market relative to high unemployment rates and reduced hiring, this survey covers other important employment data, such as layoffs, hiring freezes, staffing increases, salary freezes, and cutbacks in pay. Other major points mentioned in this survey cover short-term and long-term incentive plans and the compensation package mix.
To introduce the results of our study and to discuss compensation trends and forecasts for 2010, CRI invites you to attend a free one-hour webinar on Wednesday, October 28, at 1:00 p.m. For webinar details and to register, please follow the link below:
Our 2009/2010 Annual Salary Budget Planning Survey is a must have handbook for your company's bookshelf. For more information or to order the survey, please contact Andrew Sellers at 877-934-0505 x115 or visit our website at http://www.CompensationResources.com.
About Compensation Resources, Inc. (CRI): CRI provides compensation and human resource consulting services to mid- and small-cap public companies, private, family-owned, and closely-held firms, as well as not-for-profit organizations. CRI specializes in executive compensation, sales compensation, pay-for-performance and incentive compensation, performance management programs, and expert witness services.
Paul R. Dorf, APD Daniel P. Moynihan, CCP
Managing Director Principal
prd (at) compensationresources.com dpm (at) compensationresources.com
Compensation Resources, Inc.
877-934-0505 • Fax: 201-934-0737