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New survey data released by executive compensation consultancy Pearl Meyer show that 70% of organizations implemented larger salary increases this year compared to 2021, with 21% reporting “significantly higher” levels. When polled in November 2021, companies expecting larger increases indicated an average of 4.2%. The data show actual implemented increases were even higher than anticipated at 4.8%.
What it means to HR leaders
The research is the latest to indicate that many organizations are getting more aggressive about salary increases in light of a tight labor market and record-high inflation. Other recent analysis from Gartner found that 63% of
