25 Percent of Companies Plan to Freeze Salaries in 2009
Your Two Cents: Is Your Salary Frozen?
The outlook for salary growth in 2009 does not look good. Mercer consulting firm conducted a survey about employee pay and released the results just yesterday. Here are the highlights (or not-so-highlights).
- 25 percent of organizations said they have already decided not to raise their employees' pay in 2009.
- 20 percent are considering a salary freeze this year.
- Just one year ago, 5 percent of companies had planned hiring freezes.
- Mercer predicts that by the end of 2009, one in three companies will have frozen wages at 2008 levels.
