Has the time come to shake up the annual merit increase?
Yesterday we began coverage of our survey findings where 124 compensation and HR professionals provided their answers to that question, based on what is happening in their respective organizations. We learned that while most respondents' organizations are not considering changes to their annual salary increase policies beyond tracking and responding to competitive salary increase levels, a sizeable minority (34%) are attempting to break new ground. We learned that smaller firms (<500 FTEs) may be leading the way in this regard. We learned that there is still a lot more talk than action happening, with three times as many organizations considering changes as have already planned or implemented them.