As companies begin to put together salary increase and merit increase budgets for the coming year, inflation continues to be a key factor influencing pay and rewards. But how are employers tackling these economic challenges? This survey captured company perspectives on challenges brought on by inflation — including salary increase revisions, merit increase budgeting, planning for salary or wage reviews and additional actions — during September of 2022.
At the time of this survey, 61% of companies globally feel there will be significantly increased salary demands across all roles and skills. Among companies who reported factoring inflation into their 2023 merit budgets, 87% plan to do so for all employees across all levels and skill sets. As a result of heightened inflation, 43% of employers reported using benchmarks to determine increased compensation eligibility.
Global and region results
Individual market results