Results from 19 Countries Show Almost No Change in Growth
July 12, 2017 — WASHINGTON, D.C. — WorldatWork's annual Salary Budget Survey (SBS) reveals that nearly all surveyed countries are projecting growth in salary budget increases for 2018. These top-level results, released today, from the SBS represent total salary budget increases that account for planned pay increases such as general increases/cost-of-living adjustments (COLA) and merit increases.
Each of the 19 participating countries are planning for mean and/or median growth in total salary increase budgets. The surveyed emerging markets of Brazil, China, India and Russia continue to plan for the largest average increase budgets, but those increases are in line with past years.
"It's important to note that companies are budgeting conservatively due to the volatility we are seeing in international markets, as well as political unrest and uncertainty in the long-term stability of the European Union. I wouldn't expect to see widespread adjustments to the 2018 budget," stated Kerry Chou, CCP, CBP, GRP, CSCP, CECP, senior practice leader, WorldatWork. "In addition, while we continue to see relatively large budgeted increases in certain countries, it's worth noting that these countries also have larger inflation indices. These larger increases are a way to keep up with that."
Many countries require pay increases under various circumstances. These do not necessarily inflate salary increase budgets as they may be included in general increase/Cost-of-Living-Adjustment, merit or other increase figures. Respondents were not advised during participation on where to report mandatory pay increases.
In 2012, WorldatWork began reporting salary budget increase data for 11 countries in addition to the U.S. and Canada. Since then, six additional countries have been added based on feedback. This year, WorldatWork received 2,621 responses from these other countries, with a total of 4,942 overall. The full survey results, including city and state data, will be released on Aug. 1.
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