Organizations Plan for Higher Salary Budgets
#evolve Magazine
July 04, 2022

A new WorldatWork pulse survey revealed more than half of respondents have increased their 2022 salary budgets in the past six months.

A total of 215 responses were received, representing organizations of different sizes and across multiple industries. Results were collected over a 19-day period, beginning on Dec. 15, 2021, and announced in January 2022.

The survey also revealed that salary budget increases were necessary to attract and retain talent. Thirty-six percent of respondents were in favor of a 3% to 4% increase, while 50% were in favor of a 4.1% to 6.9% increase to properly retain and attract the needed talent in their organization for 2022.

“Retention of top talent is a top priority, and addressing compression and internal equity with the higher attraction salaries adds to a challenging compensation landscape,” said Alicia Scott-Wears, compensation content director at WorldatWork.




“Retention of top talent is a top priority, and addressing compression and internal equity with the higher attraction salaries adds to a challenging compensation landscape.”




“With the flood of resignations and the inflation reports released, it is not surprising that compensation professionals and organizations as a whole are having to reassess the salary budget spend in addressing the issues that have plagued the last six months.”

Related WorldatWork Resources
Salary Budgets Show Pay Increases for 2023
Pay Increases Expected to Hit 4.6% in 2023
Best Practices for Paying Remote Workers: Choose Your Compensation Strategy
Addressing Inflation and Stemming the Turnover Tide
Related WorldatWork Courses
Understanding Pay Equity
Quantitative Principles in Compensation Management
Geographic Pay Strategies