With changes many employers have put into place in response to the pandemic it can sometimes cause a feeling of disconnect to how other employers are handling the challenges of navigating the right decisions for your business and staff. Employers Council has conducted four surveys since the surge of the Coronavirus to assist employers with these often difficult decisions.
In May of this year, Employers Council asked employers if they were anticipating reducing budgeted pay increases in 2020 and/or 2021 as a result of the Coronavirus pandemic.
Thirty-nine percent of respondents plan to implement pay cuts in 2020/2021, 33% were not planning to reduce pay increases, and 28% were unsure of their plans. There was a total of 400 organizations that provided pay increase projections for 2020/2021.
For 2020, 27% of employers said they were unsure what would happen with pay increases while 8% said they would be implementing pay cuts. 263 employers reported the following pay increases for 2020. These data include pay freezes.
For 2021, 71% of employers said they were unsure what would happen with pay increases while 2% said they would be implementing pay decreases. 108 employers reported the following pay increases for 2021. These data include pay freezes.
Look for the Employers Council 2020 Planning Packet being published mid-September for updates on 2021 pay increase projections, economic indicators, and general planning data. In addition to the Salary Budget Update Survey, other Coronavirus response surveys such as Emergency Preparedness Plan, Employer Strategies and Pulse, and Employer Strategies for Return to Work Strategy are available at www.EmployersCouncil.org.
Additional Survey Resources
National Survey Data
Employers Council has partnered with other Employers Associations across the U.S. in order to publish a national Engineering & IT and Wage & Salary Survey to provide a national data source for members. These surveys are posted on the Survey Results page of the website.
Custom Survey Analysis
Members may obtain a Customized Survey Analysis (CSA) from any of our compensation or benefit surveys. A CSA can be requested for any jobs or benefit questions by choosing selected demographics group or a peer group of organizations in the survey. This custom survey extract allows an organization to compare its compensation or benefits against an aggregate data line of selected organizations of its choosing. This report is free to participants of select surveys if they participate by the survey deadline and available to all members for a nominal fee.
Employers Council conducts customized special studies upon member request. These studies may involve wage rates for a previously un-surveyed position, a unique benefit, or an uncommon personnel practice or policy. You provide us with information you would like surveyed from competitors close by or across the country, we gather the information, and deliver the results all for a nominal fee.
It’s important for you to find the data that most suits the needs of structuring your compensation and benefits plan. If you are in need of data from a particular group or region outside of the typical geographic region you may find the value in conducting a contract survey. Fees for this service are based on the number of questions/jobs and the perspective survey invitations extended. Please contact the surveys department if you have any questions.