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Mercer’s “ QuickPulse US Compensation Planning Survey ” indicates employers are planning to raise their compensation budgets by 3.5% for merit increaeses in 2024 and 3.9% for their total salary increase budgets for non-unionized employees.

Editor’s Note: Additional Content For more information and resources related to this article, see the pages below, which offer quick access to all WorldatWork content on these topics: ;Employee Experience; ;Employee Recognition; ;Organizational Performance; #1 Total Rewards & Comp Newsletter Subscribe to Workspan Weekly and always get the latest news on compensation and Total Rewards delivered directly to you.

For WorldatWork Members ;The Power of Job Rotation, Shadowing and Stretch Goals , Workspan Daily Plus+ article; ;Support Your Employees’ Career Growth with Development, Transparency , Workspan Daily Plus+ article; ;Career Curation: How Total Rewards Can Drive Skills Portfolio Building , Workspan Daily Plus+ article; ;Internal Mobility Keeps Employees from Moving On , Workspan Magazine article; Fundamentally, total rewards (TR) strategies are about attracting and retaining employees through security (via benefits and compensation), support (via organizational culture) and development (via opportunities for growth).

Editor’s Note: Additional Content For more information and resources related to this article, see the pages below, which offer quick access to all WorldatWork content on these topics: ;Employee Benefits; ;Employee Compensation; ;Employee Recognition; #1 Total Rewards & Comp Newsletter Subscribe to Workspan Weekly and always get the latest news on compensation and Total Rewards delivered directly to you.

Cover Story Workspan Magazine How Will Recent Union Wins Affect Overall Total Rewards?

Journal of Total Rewards readers will benefit from Beyer’s academic work.

Workspan Daily (WD) recently connected with Coen de Waal, the chief executive officer of CareerToolbelt, a job-search solutions platform, to discuss how the total rewards (TR) community can consider and make best use of compensation benchmarking.

“Maximize total returns to constituents.”

For WorldatWork Members Navigating Living Wages in Total Rewards , Workspan Magazine article;Multi-State Laws Comparison Tool , tool;How to Communicate Pay Frequency Changes , Workspan Magazine article;Salary Budget Survey , research; For Everyone The HR Horizon: Total Rewards Takeaways from the Recent U.S.

Workspan Daily Plus+ article; ;Pay Transparency and Pay Equality in the UK , Journal of Total Rewards article; For Everyone ;Breaking Down Some of President Trump’s Initial Orders and Actions , Workspan Daily article; ;U.S.