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Smith said he’s seen his influence expand on budget decisions as the business has become more people oriented, noting a shift in pre-pandemic thinking.

The company told employees in an email last week that it is increasing its overall compensation budget.

In recent years, a null salary increase budget has been uncommon in some corners, with only 1% of companies that responded to WorldatWork’s 2023-2024 Salary Budget Survey providing no raises for most employees in 2022 and 2023.

In addition, some organizations are enacting layoffs and/or budget cutbacks, thereby increasing workloads.

For WorldatWork Members ;Bonus Programs and Practices , research; ;2024-2025 Salary Budget Survey , research; ;Action Versus Motion , Workspan Magazine article; ;Rewarding Great Ideas: Using Pay to Encourage Innovation , Journal of Total Rewards article; ;Incentives and Recognition: An Evidence Review , Journal of Total Rewards article; At the heart of successful organizations lies a compensation strategy that attracts, retains and motivates employees.

And for retirees on a fixed income, the same high costs and reduced purchasing power is putting a lot of strain on their fixed budgets.”

This is why HR/TR teams will likely need to construct ways to stretch their benefits budgets as far as possible in 2026.

.; ;Phased or “catch-up” adjustments, particularly where budget timing is a constraint.; ;Targeted adjustment programs applied consistently to other similarly situated employees, reinforcing fairness and scalability.; ;Admittedly one of my least favorites, but – an executive consideration during merit to provide a differentiated increase tied to documented inequity bus using merit budget.; Scenario No. 2: The employee’s pay is aligned.

Consider employees’ generation or life stage when offering benefits and education: For young employees: Provide savings or student loan assistance, budgeting education and an early introduction to retirement investing.

In an environment of tighter budgets , transparency is even more critical.