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A typical minimum wage increase may be 2% and 3%, she said, while a typical employer salary budget may be between 3% and 4%.

Just 2% said the current environment would have no impact and 16% were unsure how things would shake out.

Although the unretirement trend appears to be stabilizing, it stands well above the pandemic levels of 2% to 3%.

Additional data from Workhuman also found what may be a common, yet subtle culprit that may be limiting effective recognition: implicit bias in as much as 30% of workplace communication used to deliver rewards and feedback.

Educating employees on the most common types of tax credits can help reduce their overall tax liability.

Building the Right Compensation Package In addition to the standard salary and performance bonuses, Canavan said the building blocks should be: retention incentives, which organizations can address through real or “phantom equity” (a type of compensation award that references equity, but does not entitle the recipient to actual ownership in a company); a long-term cash bonus plan; or split-dollar life plan, which allows the sharing of the cost of a premium for a permanent life insurance policy.

When it comes to compensation, he said, AI can help organizations analyze objective data — such as job type, level and time-in-role — to ensure salary decisions are made in an apples-to-apples manner, where appropriate, across teams.

;Define various types of disruptions.

Projection at 3.8%; ;2023 survey report: Employers Budgeting 4.1% Pay Raises in 2024; ;2022 survey report: Salary Increase Budgets Reach 20-Year High; ;2021 survey report (member only): Salary Increase Budgets Poised to Rebound in 2022; A Glimpse at Worker Type Breaking down the data by employee classification, the WorldatWork survey showed generally the same trend lines for hourly and salaried workers.

Each of the three main types of LTI vehicles has benefits and drawbacks that should be carefully evaluated: ;Appreciation awards.