Compensation on the Rise

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<strong>Madbury, N.H. &mdash; Jan. 29</strong><br />More than three-quarters (77 percent) of business leaders expect to increase the compensation to their employees during the next 12 months, according to the nationwide survey of 251 senior executives and managers conducted by NFI Research.<br /><br />More than half cite business conditions (57 percent) and performance (54 percent) as the top reasons.<br /><br />”It is interesting to note that despite current economic conditions, business leaders still plan to continue to increase compensation of their subordinates,” said NFI Research CEO Chuck Martin, author of SMARTS, Are We Hardwired for Success?<br /><br />Other reasons for the increase in expectations to compensate subordinates are employee retention (44 percent), economic conditions (37 percent) and making the numbers (29 percent).<br /><br />Personality and likeability are at the bottom of the list, with 4 percent.<br /><br />”There remains substantive pressure to retain current employees in an increasingly competitive environment,” said one survey respondent.<br /><br />By organization size, more senior executives and managers in small businesses (51 percent) say employee retention is a main reason for their increase in expectations for compensation than large businesses with only 35 percent saying the same.<br /><br />An overwhelming majority of senior executives (90 percent) said they expect to increase compensation for their subordinates, while a smaller amount (64 percent) of managers say they expect to increase compensation for those who work for them.<br />

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