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CFOs: Employee benefits & comp levels to stay the same

Christian Schappel
by Christian Schappel
April 20, 2010
1 minute read
  • SHARE ON

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.

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