×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: Towers Watson | raise | workers | jobs

Towers Watson: Employers Plan 3 Percent Raises for Next Year

By    |   Monday, 08 September 2014 03:25 PM

Most of us apparently shouldn't hold our breath for a big pay increase next year.

U.S. employers are budgeting an average raise of 3 percent for their workers next year, close to the 2.9 percent increases for 2014 and 2013, according to a new survey of more than 1,000 U.S. companies by consulting firm Towers Watson.

The government calculates that average hourly wages rose 2.1 percent in the year through August. Consumer prices increased 2 percent during the same period.

Editor’s Note:
New Warning - Stocks on Verge of Major Collapse

"Your average employee is barely keeping ahead of inflation,'' Laury Sejen, managing director at Towers Watson, told USA Today. "It's a little bit disappointing."

Workers who attained the highest performance ratings garnered a 4.5 percent raise for 2014, while workers with average ratings saw their pay rise 2.6 percent.

Low pay increases could ultimately lead workers to bolt their jobs, Sejen says. "Base pay is the No. 1 reason why employees join a company or choose to leave. So there's value in companies making the effort to improve base pay."

Meanwhile, a survey of Harvard Business School alumni shows that 41 percent of the 1,947 respondents foresee lower pay and benefits for workers.

In addition, 49 percent of the alumni prefer outsourcing work rather than creating new jobs. And a rising number favor part-time employees. Almost 50 percent see investment in new technology as more advantageous than hiring or keeping employees.

Editor’s Note: New Warning - Stocks on Verge of Major Collapse

© 2021 Newsmax Finance. All rights reserved.


Finance
Most of us apparently shouldn't hold our breath for a big pay increase next year.
Towers Watson, raise, workers, jobs
255
2014-25-08
Monday, 08 September 2014 03:25 PM
Newsmax Media, Inc.
More Articles
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved