October 02, 2018

in Broad-based Compensation

Organizations budgeting a 2.6% increase in salaries for 2019

Accompass has released the results of its recent annual salary budget survey, and found that among the 143 organizations surveyed, an average of 2.6% was projected for 2019 salary budgets. This average excludes the 4.2% of organizations that were planning a salary freeze, which is down from 6% projected a year ago.

Salary budgets vs. CPI

The survey was conducted in August, and 85% of the participants had yet to finalize their budgeting for 2019.

"We found that among the organizations with minimum wage employees, roughly half of them were using a separate budget to deal with the increase," said Vice President Anne Peiris, referring to the substantial increases to minimum wage introduced through Bill 148. "Compression issues could be a concern with over half of the organizations planning on only increasing the employees who are at minimum wage."

A comprehensive summary and analysis of the results is now available.