Merit Pay On A Treadmill; Other Rewards Emerging

Jan. 13, 2005
For the fourth consecutive year, merit pay increases for exempt, salaried professionals are expected to average 4.1% next year. One reason is that 90% of the companies that were surveyed by Buck Consultants Inc., New York, are using one or more ...

For the fourth consecutive year, merit pay increases for exempt, salaried professionals are expected to average 4.1% next year. One reason is that 90% of the companies that were surveyed by Buck Consultants Inc., New York, are using one or more alternative reward strategies. The two most used rewards: hiring bonuses -- used by 75% of the companies, and retention bonuses -- used by 45% of those surveyed. In addition, one-third of the companies surveyed offer broad-based stock plans, with another 12% in the process of implementing them or considering their use.

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