Phillip Blount & Associates

By Lauren Belcher at Phillip Blount and Associates Despite our growing economy and rising stock market, one thing remains consistent – salary budget increase projections.   National, industry-wide projections are stagnant, for the fourth consecutive year at a projected median of 3.0 percent (average, 3.2 percent) for...

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.

WorldatWork is again projecting a 3.1 percent average increase (median 3.0 percent) in salary budgets for 2016 similar to their 2015 projection. Similarly, the Society for Human Resource Management (SHRM) recently reported that Hay Group, along with additional researchers, have also predicted the a moderate...

As new technology growth and globalization of business change the way human resources are managed, three important new human resources trends in 2016 will further impact pay practices, incentive pay plans and employee and executive compensation strategies; FLSA overtime pay regulations, variable pay plans and...

By Lara Sadowski at Phillip Blount Associates During a conference last November 2015, the Solicitor of Labor, M. Patricia Smith, shared news regarding the proposed Fair Labor Standard Act (FLSA) overtime regulations. She reported that the FLSA overtime eligibility rules probably would not be issued until...