The annual CAI Pay Trends Survey provides employers the information needed to prepare their salary budget plans for the upcoming year. Conducted in the fall, this survey provides a valuable 4th quarter update. Participants received results of the survey in November, and now we are pleased to share the results with all members regardless of participation. Go to Find CAI Resources/Member Surveys to view the full report. Data were collected from over 400 employers. What did we find?
Overall, employers in October 2014 reported somewhat higher base pay increases compared to increases reported in April/May 2014 for hourly and exempt employees (see graph). In October, 66% of employers reported giving hourly employees an increase of 3.0% or more; 72% reported giving exempt employees 3.0% or more. Of those, about 18 – 24% gave employees at least 4.0%. Average percent increases include 2.6% incl 0 / 3.1% excl 0 for hourly employees and 3.0% incl 0 / 3.5% excl 0 for exempt employees.
Many employers reported that they provide increases based on employee performance. The percentage of employers who typically provide lowest/highest increases based on performance is 75% for hourly, 82% for exempt, and 65% for executive staff. On average, employers reported giving 0.9 – 2.2% on the low end and 5.5 – 6.9% on the high end (top performing) to hourly and exempt employees.
What is projected for 2015?
The majority of respondents, more than 80%, indicated that their projections for 2015 have not changed since April/May. However, 12 – 16% of employers indicated that their projection is now higher for hourly and exempt employees. Average increases, as projected, are nearly identical to those reported in the spring. The projection for exempt employees is somewhat higher, but marginal. Average percent increases include 2.4% incl 0 / 2.9% excl 0 for hourly employees and 2.8% incl 0 / 3.2% excl 0 for exempt employees.
The 2015 NC Wage & Salary Survey is not far off with data collection planned in April. Only participants receive full results. Make sure your organization has a designated survey contact to keep on top of CAI's valuable survey offerings. Check with the CAI Survey Team (email@example.com) to ensure receipt of survey-related communications and "give data to get data".