Mass. Employers Planning Raises
Despite continuing high unemployment, the state's economy seems to be warming up, according to the Associated Industries of Massachusetts 2011 HR Practices Report.
The report found that employers are reversing salary freezes, furloughs and benefit reductions that they implemented over the past two years. AIM says that's because they're feeling a need to attract and retain good employees as the hiring environment becomes more competitive.
According to AIM, employers are budgeting for average wage and salary increase of 2.45 percent in 2011, compared with 2.1 percent this year and 1.7 percent in 2009.
Sixty-one percent of the companies also report the current business conditions are good to excellent.
The percentage of companies planning to freeze compensation dropped from 24 percent in 2010 to 11 percent in 2011, and the number planning to reduce compensation fell from 10 to 6 percent.
WBJ Web Partners
Most Recent
Most Recent
0 Comments