LANSING – The American Society of Employers 2016/2017 Salary Budget Survey results have been compiled. Despite economic growth and continued low unemployment, 3 percent remains the amount Michigan employers are budgeting for employee pay raises in 2017. However, Michigan employers are not alone, according to WorldatWork’s 2016/2017 Salary Budget Survey across the nation most organizations are only budgeting for a 3 percent increase.
61 percent of employers are distributing merit dollars across all employee groups, with the largest amount of dollars going to top performers, while low performers receive a smaller amount. Two years ago we saw 43 percent of employers providing merit dollars mostly to top performers, some merit dollars to average performers and no merit dollars to low performers. This year that number dropped to 29 percent.
To read the rest of this report, click on https://www.sbam.org/Resources/tabid/97/ArtMID/2980/ArticleID/2540/The-survey-says.aspx
