The message company execs are sending to employees who are expecting a raise:
“Not anytime soon.”
Most CFOs (53%) are saying salaries at their organizations won’t change for at least six months, according to a national survey of U.S. CFOs and senior leaders conducted by Grant Thornton, LLP.
Meanwhile, 32% plan to decrease salaries at their organizations and only 15% plan on increasing salaries.
CFOs also appear to be in a similar holding pattern when it comes to healthcare benefits costs, employee bonuses and matching 401(k) contributions.
Other findings:
401(k)
- 74% of CEOs said they are keeping their organizations 401(k) match the same
- 21% are reducing contributions, and
- 5% are increasing them.
Healthcare benefits
- 65% said the average cost per employee for healthcare benefits at their organization is staying the same
- 29% said they are reducing costs, and
- 6% say costs are increasing.
Employee bonuses
- 47% plan no change to employee bonuses
- 44% will reduce bonuses, and
- 9% will increase them.
Is your company increasing salary or benefit levels? Let us know in the Comments Box below.
