January 2021 (Online/Excel); October 2020 (PDF), Next release: Excluding companies that have implemented wage freezes, businesses in Indonesia are forecasting an average 6.9 percent overall merit increase in salaries for 2021, … They caution that 40% of survey respondents are still undecided. • 5% will freeze salaries in 2021 • 5% will not have a merit cycle for 2021, but consider individual one-off increases FORECASTS OF MERCER Mercer believes in building brighter futures by redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being. Please call for more information. ... For average actual salary increases based on merit or progress through the range, we would recommend up to 2%. Regions available: Americas; Asia Pacific; Europe; and Middle East & Africa. 2021 Salary Budget Update Survey The 2021 Salary Budget Update & Compensation Planning Survey is open for participation. Additional industry and geographic breakout information that can be customized Go To Section. Faced with the possibility that this alone may be insufficient to achieve retention of employees and recognize their contribution, companies are turning to other incentives in … Call 866-605-1031. Align your compensation strategy with today’s energy market. Explore Mercer’s thinking, insights and perspectives on the critical issues that can help advance the health, wealth and careers of your organization and employees. Automotive industry projected to have highest salary increase with 5.5% High tech industry has the highest involuntary turnover rate at 7% Bangkok, 6 November 2019 - Mercer today announced the results of its annual ‘2019 Thailand Total Remuneration Survey,’ a study which identifies key remuneration trends and makes hiring and pay increase predictions for 2020. Percentages are averages. Only 7% of companies are not planning pay increases next year, down significantly from 14% this year, an indication that many organizations are projecting a turn toward normalcy in 2021. Additional users may be added for a fee. Excluding companies that have implemented wage freezes, businesses in Indonesia are forecasting an average 6.9% overall merit increase in salaries for 2021, though 18% of companies remain uncertain about increments next year. Even an influx of cash from December’s Tax Cuts and Jobs Act hasn’t had an impact – only 4% of employers plan to redirect tax savings to salary increase budgets in 2019, of which 53% project the increase … Online includes access to Excel download files and PDF reports. Please complete your other currency purchase before adding a product of a different currency to your shopping cart. Total increase budgets, which include market and other adjustments, were reported to be 3.0%, excluding zeros. Sites. Executives and non-exempt employees are in line to receive slightly smaller increases of 2.9%. Access our brochure to see how they compare. The finding that projections for 2021 closely mirror 2020 outcomes shows the high level of uncertainty among compensation planners about the state of the economy next year, WorldatWork’s analysis suggested. The second edition which is now available provides actual 2020 salary increase budgets and turnover trends as well as projected budgets for 2021. Mercer builds brighter futures by redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being. For those that reported a proposed merit increase budget, the average for all employees, including zeros (e.g., freezes) is 2.5%. Additional industry and geographic breakout information that can be customized In Japan, 33 companies have solicited voluntary separation … Insights on Retirement and Investments . Leading global consultancy Mercer today announced the findings of its 2019/2020 Canadian Compensation Planning Survey, which include the finding that merit increase budgets have increased slightly in 2019, to a level of 2.6%, excluding those organizations which have implemented salary freezes. Of the 536 organizations that participated in the survey, 88% indicated that they were either “still discussing”, were unsure, or hadn’t even started the process of determining their annual increase budget. Mercer’s more than 25,000 Whether you’re creating a new salary structure or determining how your budgets compare with your competitors, take a more surgical approach using data for more than 140 markets. Pay data for core benchmark jobs from 100 markets. The 2019-2020 survey includes more than 2,100 employers across dozens of industry sectors in 132 countries, making it the largest and most comprehensive survey of its kind in the world. Salary Projections for 2021. Mercer’s got your back. Employers Trim Projected Pay Raises for 2021 Salary Increase Budgets Decline for First Time in 12 Years Employers Embrace 'Resilience Through Rewards' Strategies More than one in four companies has reduced executive pay, and 30% have delayed merit increases for 2020. Below is a high-level look at results from the 2020-2021 survey, which closed in June 2020. #distractions: help where it counts most. As a result, the impact of the salary increase on performance is often muted, with employees receiving mixed messages that … In 2020, companies granted employees increases … When excluding zeros, that number increases to 2.4%. The table below summarizes the survey’s top-level results for 2020 and projected salary budget increases for 2021, compared with 2019 salary budget increases. This slight increase … "The average total increase budget in 2019 was 3.5% and the average projected total increase budget in 2020 is 3.6%," Mercer said in a statement. Dive Brief: Merit increases will rise to an average 2.6% in 2021, U.S. employers responding to a recent Salary.com survey predicted. ... Mercer (National): – projected average increase of 2.4%. Salary increase budgets are the pool of money available annually for base pay adjustments. Mercer’s TRS research of over 472 companies in the Kingdom also revealed the annual salary increase is forecasted to grow a further 4.5% in 2020, with the highest increase shown in the life sciences industries at 5%. MERIT INCREASE . Mercer's Global Compensation and Benefits Planning Report provide exclusive insight into ongoing salary trends, HR trends, and market indices. Benefits advisory and brokerage firm Gallagher's "2020/2021 Salary Planning Survey" report as presented by the Society for Human Resource Management (SHRM), predicts that, in 2020, salary increase budgets will rise 2.5% down from earlier projections of an increase of 2.8% on average. Data are updated four times per year (end of January, April, July, and October) for available markets. Call 866-605-1031. ASIATODAY.ID, JAKARTA – Salaries in Indonesia are projected to increase in 2021 despite the economic fallout from the coronavirus pandemic.. Excluding companies that have implemented wage freezes, businesses in Indonesia are forecasting an average 6.9% overall merit increase in salaries for 2021, though 18% of For those that reported a proposed merit increase budget, the average for all employees, including zeros (e.g., freezes) is 2.0%. In times of disruption, we’ve got you covered 2020 Global Talent Trends Report | The Future of Work | Mercer . Actual 2018 numbers are from the 2018/2019 Canada Compensation Planning Survey… Merit increase budgets are projected to remain at this level in 2020. Total U.S. Salary Budget Increases: 2019-2021. Mercer’s annual Singapore Total Remuneration Survey (TRS) for 2019 has revealed that the overall salary increase projected for Singapore for 2020 is 3.7 percent compared to 3.6 percent in 2019. Read this article to learn four actions you can take to fix it. ORGANIZATIONS CONTINUE TO INVEST IN SALARY INCREASES The vast majority of organizations are … Though in some ways this new life does seem normal, the continued uncertainty and developments do seem to be causing a delay in planning and budgeting for 2021. About Mercer… A small percent of respondents indicated that they were planning to enhance these and other development programs. The full table of contents includes: Budget and actual increases by employee group, industry and region (delivered in Excel) Merit; General increases; Special adjustments; Promotional; Turnover including sales by employee group, … Current & projected data on pay increases, structure adjustments, and more. When asked about COVID-19, 65% of respondents … On a base salary of $60,000 that works out to a new rate of $62,820 for a top performer compared to $61,620 for the on-target performer. Mercer’s findings are consistent with WorldatWork’s “2019-2020 Salary Budget Survey,” which found that merit increase budgets for 2019 were reported at 2.9%, a slight shift upward from 2018. Québec Associations Services Centre – CQSA (For Non-Profits in Quebec): – projected average increase of 2.1%. Individuals or companies using Mercer data for consulting services or commercial purposes are subject to different rates. Global Salary Increase Survey Get valuable insights to improve your global understanding of salary increase trends and the various economic factors that influence those numbers. It may be that organizations are waiting to see how the workforce settles before making changes to how they use geographic differentials. However, another 42% indicated that they “don’t know” or are unsure. Mercer found that 41 per cent of organizations budget separately for promotional increases, consistent with last year, and the average promotional budget represented 1.1 per cent of payroll in 2019. Single market (country) reports are available upon request; please contact your local Client Services team to place an order. Salary increases for employees at many companies in the U.S. are on the horizon for 2021, according to the 2020 General Industry Salary … Excluding the impact of salary freezes, actual and projected salary increases vary from 2.8% to 3.0% for the Mining & Metals, Life Sciences, and High Tech sectors. ca ca; Choose Your Location. More specifically, WorldatWork reports an average projected total salary increase of 2.9% across employee types. Talent All Access® subscribers receive exclusive early access to many of our products. Easily understand the economic climate and salary increase market trends to optimize your compensation planning. Respondents projected an additional 0.1 percentage point increase in 2020 to a mean and median of 3%. Go To Section. New Graduate Starting Salaries — A Global Summary of New Graduate Pay, Salary review frequency and salary increase effective date, Actual, budgeted, or forecasted salary increase figures, Percentage of companies reporting zero salary increase (salary freezes). By participating in our next Compensation Planning Pulse you’ll received additional information that will help you finalize your 2021 plan. Below is a high-level look at results from the 2020-2021 survey, which closed in June 2020. If you are responsible for compensation in your organization, … With such a small sample (n=64) of employers reporting 2021 budget numbers, it’s still too early to really understand the average merit or total increase budget. Argentina Australia Austria Belgium Brazil Canada Chile Colombia Denmark Finland France Germany Hong Kong SAR India Indonesia Ireland Italy Japan Malaysia Mexico Middle East … ... Mercer (National): – projected average increase of 2.4%. How this will translate to employees that were once in higher cost of labor areas doing the same job in lower cost of labor areas is still a bit unclear and will likely vary from company to company. Questions? Analyze economic, labor market trends, and workforce changes by region, country, and industry. Of the organizations that plan to have a merit increase cycle and not freeze salaries (50%), the majority indicated that they will be setting a similar budget to what they did last year. Perhaps we will see an increase in salary freezes this year — we’ll have to wait and see. Welcome to imercer.com After all, it could prove to be a cost savings — one with a negative impact on employees, but a cost savings, nonetheless. Mercer’s annual Singapore Total Remuneration Survey (TRS) for 2019 has revealed that the overall salary increase projected for Singapore for 2020 is 3.7 per cent compared to 3.6 per cent in 2019. Need more information? Dive Brief: Merit increases will rise to an average 2.6% in 2021, U.S. employers responding to a recent Salary.com survey predicted. Just over half of organizations (57%) plan to keep budgets the same from 2019 to 2020. Faced with the possibility that this alone may be insufficient to achieve retention of employees and recognize their contribution, companies are turning to other incentives in … Talent scarcity and the ease of mobility are making it increasingly critical that HR retain top performers while also attracting outside talent. Mercer has recently released its new Total Remuneration Survey, explaining that salaries in Indonesia are projected to increase in 2021 despite the economic fallout from the coronavirus pandemic.Excluding companies that have implemented wage freezes, businesses in Indonesia are forecasting an average 6.9 percent overall merit increase in salaries for 2021, … For 2021, the projection is for average salary budget increases of 2.1%, with some … The majority of organizations report that they do currently use geographic differentials and plan to continue. Even though more people are working anywhere with a strong internet connection, geographic differentials are not dead. While forecasts vary across specific industries, the strongest push is likely to come from the life sciences and high-tech industries. “That delta between the total increase budget and the merit budget is continuing to grow. As shown in Figure 2, more than 70% of companies responding to a recent Mercer survey have implemented hiring freezes, and, globally, around 40% have announced furloughs and reductions in force. As shown in Figure 2, more than 70% of companies responding to a recent Mercer survey have implemented hiring freezes, and, globally, around 40% have announced furloughs and reductions in force. Excel reports release four times per year: end of January, April, July, and October. Featured Leadership Thoughts. Mercer’s latest US Compensation Planning Survey revealed salary increase budgets for 2018 were flat at 2.8% and projected to be only 2.9% for 2019. The best performing employees may be wondering if it … The average real salary increase for workers in Singapore is forecasted to be 3.0 percent above inflation in 2020, a slight drop from the 3.3 percent increase that was seen in 2019. *Data are available via GCPR Online only. The mean is the mathematical average, and the median is the middle value after listing expected budget increases in successive order. Outliers, or extreme values on either the high or low end, have a bigger … GCPR Online is updated quarterly and includes access to all markets in an easy to use, online format, as well as downloadable Excel files and PDFs! Insights on Workforce and Career. 33% of respondents … Gain insight into salary increase budgets and economic data to help set and manage your salary increase budgets. Respondents projected an additional 0.1 percentage point increase in 2020 to a mean and median of 3%. Insights on Health & Benefits. 14% of respondents plan to freeze salaries for 2021. Nevertheless, two … FORECASTS OF MERCER ... (3.2%) to merit increases, refl ecting a more robust competition for talent. Salaries in Indonesia are projected to increase in 2021 despite the economic fallout from the coronavirus pandemic. Your single source for data and insights on all HR topics. One in 3 U.S. companies are lowering their projected salary increases for 2021 amid concerns over weaker financial results and budgetary restraints. Mercer’s findings are consistent with WorldatWork’s “2019-2020 Salary Budget Survey,” which found that merit increase budgets for 2019 were reported at 2.9%, a slight shift upward from 2018. According to the July Compensation Planning survey pulse, 34% of employers are expecting that in the future only up to 25% of employees will work remotely. Fifty-one percent indicated that they would maintain the status quo and were not planning on enhancing or decreasing their offerings. Interestingly, average merit increase budgets for 2019 and projections for 2020 are largely consistent with the past five years, at 2.9% and 3.0% respectively. Explore Mercer’s latest thinking to see how we’re helping to redefine the world of work, reshape retirement and investment outcomes, and unlock real health and well-being. Mercer will further explore these results in follow-up pieces, incorporating insights from its proprietary research databases and client experience. The 2020 average for actual total salary increase budgets, including exempt, executive, and nonexempt salaried employees, … In 2019, British Columbia and Alberta led the country in expected salary increases, said Morneau Shepell, but for 2020, B.C. Executive … Interestingly, average merit increase budgets for 2019 and projections for 2020 are largely consistent with the past five years, at 2.9% and 3.0% respectively. About 3 in 10 companies indicated that they would be setting a smaller budget. 5% of respondents plan to freeze salaries. The projected recovery to an average 2.6% merit increase next year indicates that employers are optimistic about an economic recovery in 2021 … Global Excel | Industry includes market-level data for up to 14 industries, provided minimum sample size thresholds are met. Mercer's Outlook Offers Average Raise for a Promotion . Price is for a single release. Published: It’s good news that the majority of respondents did indicate that they have recognition programs, with the most common forms being gift cards, charitable donations/matching, and a formal “Thank-you”/e-card program. Mercer has recently released its new Total Remuneration Survey, explaining that salaries in Indonesia are projected to increase in 2021 despite the economic fallout from the coronavirus pandemic. Salary Increase Budgets for 2021: A Wage Crunch Is Coming—but It's Delayed. Gain insight into salary increase budgets and economic data from the previous, current, and upcoming years to ensure that your budgets remain on trend, no matter where in the world you operate. The annual Salary Trends Report from global mobility experts ECA … All we can do is continue to collect data and make the best decisions for our organizations, weighing our risks. The Conference Board Annual Salary Increase Budget Survey shows that employers have already started to lower their salary budgets. They caution that 40% of survey respondents are still undecided. The annual salary increase process is broken. Global Salary Increase Survey Get valuable insights to improve your global understanding of salary increase trends and the various economic factors that influence those numbers. Employers indicated that the top development programs they have in place are professional training/certificate reimbursement, training, and challenging/cross-functional work assignments. Gain insight into the types of incentives offered around the world. ... January 2021 (Online/Excel); October 2020 (PDF) ... Current & projected data on pay increases, structure adjustments, and more.