Salary Budget 2024: Survey Report

Introduction

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, HR & Compliance Center 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.