Comp budgets on the rise, but still below inflation.

• Position: In The News...

Over the past decade, inflation has hovered between 1% and 2%, while the average merit budget increase has risen between 2% and 3%. In 2022, the vice-tight labor market is expected to drive those salary levels higher, up a projected 3.2% next year, according to Mercer's new Compensation Planning Survey. But those higher raises won't nearly keep pace with surging inflation, which has increased about 6% this...