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Survey Results: Real-time insights pulse on inflation and impact on pay and rewards

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