Stay Competitive – Plan For Payroll Increases

According to the business consulting firm Mercer, 98 percent of the 1500 employers included on a recent survey plan to increase employee pay in 2013. Salary increases are expected to be up by 2.9 percent, an increase from 2011 and 2010. CNN Money reports that pay raises will not, however, be uniform across the board. Workers designated as top performers are expected to get larger compensation increases than average workers. Some top workers can expect increases as high as 4.5 percent while average workers, approximately 54 percent of the workforce, can expect to see a more modest 2.4 percent increase [...]