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