October 2016

By Lauren E.B. Belcher at Phillip Blount & Associates Locked in a standstill, salary budget increase projections for 2017 are remaining at 3.1 percent (average) overall (3.0 percent, median), according to WorldatWork. These projections are identical to the projected salary increases made by WorldatWork for 2016. Actual 2016 budget increases, however, in fact were lower - by approximately 0.1 percent with the average overall increase at 3.0 percent. 2017 is the third consecutive year to have projected salary budget increases at 3.1 percent. WorldatWork attributes this to a slow, steady growth in increases being reported since the recession. Other factors effecting the halt in rising projections include slight increases in “zero-percent increases” being reported.