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Workers hoping for big raises next year are in for disappointment.
Employers will be holding the line on pay increases, following a
trend of reining in compensation costs to stay competitive.
Employers are planning an overall salary budget increase of 3.9%
next year, according to an August survey by WorldatWork, an association
of human resource professionals that conducts one of the most comprehensive
salary budget surveys. That follows similar modest salary increases
of 3.9% in 2007.
The pay raises modestly outpace consumer inflation, which was
2.7% for the 12 months ending in June.
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