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Private81294

   
Salary Surveys During COVID - 19  
Posted: 04/06/2020 06:28am   220 Views
  
     

Wondering what others are doing about salary survey participation during this time? Data would be due relatively soon, at a time when the economy is at it's worst, and the results will be released in the Fall - when things may look drastically different. Just trying to get a feel for what/if anything companies may be doing differently this year.

Thanks!


#1

Salary Surveys During COVID - 19  
Posted: 04/06/2020 06:31am  
  
     

We are starting to look into this as well.  We will be declining to participate in a number of surveys due to discretionary budget cuts and using the 2019 data without a trending factor until there is a clearer picture of salary movement in the industry. 


Salary Surveys During COVID - 19  
Posted: 04/06/2020 09:02am  
   (2 ratings)
     

From a base salary perspective, at least, I'm not convinced that the data will be as adversely affected as much as one might expect THIS year.  Approximately 70% of companies responding to a mercer survey indicate that merit increases have or will continue as normal.  Presumably bonus targets and LTI targets will remain the same as well.  Actual Total Compensation may vary given current economic situation, but I don't believe that they 2020 surveys will be so badly skewed that they are less reliable.  It may be wise to also consider surveys that publish quarterly, rather than annually as well, to mitigate data skewing.  Having accurate market data will be more important than ever when hiring employees in this climate now, and when we begin digging ourselves out of the hole the economy is currently in.  

Mercer Survey Results below, based on nearly 1900 responess:

Have companies implemented the 2020 merit increase?

Yes, implemented prior to outbreak global escalation 
32.71%
Yes, communicated prior to outbreak and will be implemented on effective date as planned 
17.86%
No, our effective date is in the second half of the year and we are not planning any changes 
12.12%
No, our effective date is in Q2 and we are not planning any changes 
7.19%
No, we have delayed the merit increase implementation 
9.97%
No, we are considering delaying the merit increase implementation 
12.28%
No, there is a company-wide salary freeze for 2020 
7.88%

 

 


Sauce:  https://app.keysurvey.com/reportmodule/REPORT2/report/1479157/41188187/e0176b7809e3e4e0a08ef5f21b10a2f0?Dir=&Enc_Dir=8129ead7&av=IxnIBAm77ac%3D&afterVoting=45f9106942e8&msig=b69a8d67569063f9c374d5de6672aa83


Private23528

   
Salary Surveys During COVID - 19  
Posted: 04/06/2020 03:18pm  
   (2 ratings)
     

We continue to participate in salary surveys and have taken a wait and see approach to the affects of Covid-19 on the economy.  Changes will, no doubt, be coming in the future.  For now, we are working to keep our employees safe and financially stable.


#2

Salary Surveys During COVID - 19  
Posted: 04/14/2020 05:58pm   Revised: 04/14/2020 06:01pm  
   (1 rating)
     

Claudia,

My current employer doesn't participate in as many surveys as my previous (in one year I participated in 20 from small surveys to nine big ones) we are participating as normal -- let's face it, the pay as of March 1 was the pay on March 1.  I expect that the impact won't be so much on base pay per se as much as on merit increase and structure changes that will be surveyed in the summer and fall.

Other thoughts????

I also expect the consulting houses to start doing their "quickie surveys" on the subject starting...right now...

See the responses to this question:  https://apps.worldatwork.org/community/discussions/discuss.jsp?did=58174


Private12496

   
Salary Surveys During COVID - 19  
Posted: 04/14/2020 06:09pm  
   (1 rating)
     

Claudia,

Wall Street Journal, Monday, April 13, 2020, Section B, Page 1 -- top article:  "Large Tech Companies Hunt for Talent."

Ned


Private72139

   
Salary Surveys During COVID - 19  
Posted: 04/23/2020 05:57pm  
  
     

Our company has chosen not to participate in salary surveys this year to help save costs.


 
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