Salary Budget 2024: XpertHR Survey Report
When employers draft plans for upcoming budget changes, it can be a challenge to rise to the expectations of employees without putting the organization at risk. Falling too far behind the raises employees feel they deserve may lead to discontent and cause a much more expensive turnover problem - however, it is often not possible to meet every employee's demands if an organization wants to survive in a difficult economy. Referring to the plans of competitors can give employers the information they need to achieve the right balance.
In this report, XpertHR presents recent projections for changes to 2024 salary budgets across nearly 400 organizations. These statistics can help inform decision-making around the upcoming year's salary budget. This survey report also discusses budget-related challenges for the upcoming year, changes planned for bonus systems, and compensation for fully remote employees.