Employers budgeting for 4% pay raises in 2024.
Salary budgets are expected to remain high in 2024 as employers become accustomed to ongoing labor market challenges, according to consultants at Willis Towers Watson. The company's latest Salary Budget Planning Survey found employers budgeting for average pay raises of 4.0% next year, less than 2023's average 4.4% raises.
Employers are adjusting pay practices to attract and retain...
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