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November 10, 2009

Salary Freezes & Reductions: Rollbacks on the Horizon

Filed under: General HR Buzz4:20 pm

The economic picture, at least from the standpoint of salaries, is beginning to get a little brighter.

In the latest installment of their research on the impact of the recession (this round conducted earlier in October and reflects  the plans/practices of 201 U.S. based companies), Watson Wyatt finds that more than half of those companies who have frozen or reduced salaries are planning reversal/reinstatement in the next 6 months.

The detailed findings salary-wise:

Salary Freezes

Of those companies that have implemented salary freezes…

54% plan to eliminate the freeze in the next 6 months

26% plan to eliminate the freeze in the next 12 months

6% plan to eliminate the freeze in the next 18 months

2% believe it will be more than 18 months before the freeze is eliminated

5% do not expect to reinstate salaries

7% do not know

Salary Reductions

Of those companies that have implemented salary reductions…

57% plan to reverse the salary reduction in the next 6 months

20% plan to reverse the salary reduction in the next 12 months

3% plan to reverse the salary reduction in the next 18 months

7% do not expect to reverse the salary reduction

13% do not know

Source: compforce.typepad.com/compensation_force

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