As HR and benefits pros put the finishing touches on this year’s tasks, many are already looking ahead to see what’s in store for 2013.
That means finding out what similar companies have planned — and benchmarking themselves against the competition.
To that end, here’s what your peers have planned in the area of employee pay for 2013.
According to a number of studies, the average base employee pay increase is likely to be around 3%, which is a slight increase from many of the estimates in previous years.
Major bump for specialized skills
If you’re looking for more industry-specific details on firms’ pay plans, Robert Half International’s 2013 Salary Guide reports do a nice job.
According to Robert Half, pay in the tech sector is expected to see the greatest pay bump this year, with an average increase of 5.3%. Mobile application developers in particular will see a salary increase of 9% on average.
The report also found that workers in the accounting and finance sector can expect to see a 3.3% jump in pay, and administrative and office support professionals are expected to see salary increases of 3.5%.
A separate report from WorldatWork found employees in the energy industry can expect to see average raises of between 3.8% and 3.9%, and government workers and educators are likely to see the most meager raises, with average increases of just 2.1% expected in each field.
Another trend that’s likely to continue next year: Rewarding top performers with the lion’s share of the salary increases. In fact, WorkatWork’s Kerry Chou says top performers can expect to see pay raises that are roughly 50% greater than average workers.
While the majority of firms are planning on bumping up employee pay next year, there are still a number of firms that are keeping salaries frozen.
To keep workers from jumping ship, these companies should look into what they can offer instead of raises. And a recent study by Glassdoor gives employers a good idea of what workers are looking for.
The study highlighted employees’ top work-related resolutions for 2013. While it’s no surprise a salary raise topped the list (32% of workers cited it), employees would also like to:
- Develop leadership skills (24%)
- Improve their performance (21%), and
- Attend work-related training (16%).