2014 Compensation Best Practices Report
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Transcript of 2014 Compensation Best Practices Report
We surveyed 4,700+
companies about…
• Economic climate
• Compensation practices
• Business practices
Key Findings
Companies have big
plans for 2014:
• Workforce expansion
• Better financial performance
• Raises
But, they have big concerns about:
• Retention
• The skills gap
• Lack of good salary data
Performance Matters in 2014
• 54% gave performance-based pay increases
• Incentive-based bonuses were the most
common type of bonus
• Information, Media and Telecommunications
was most likely to give incentive bonuses (71%)
• 93% conduct performance reviews
Impact of government
Affordable Care Act
• 84% expect no staffing changes from the ACA
• 5% cutting back hours
• 8% will hire fewer full time workers
Fair Minimum Wage Act
• 40% are in favor of $10.10
• 30% against
• 30% unsure