Study: Merit increase budgets continue to rise in the global CRO industry
Merit increase budgets continue to rise in the global CRO industry, according to a study conducted by HR+Survey Solutions. The survey found the overall global (all countries combined) average budgeted salary increase for 2015 is 4.14%, up from 3.94% in 2014, and significantly higher than the overall average actual increase in 2014 of 3.7%.
The survey also found:
- On average, companies actual 2014 merit increases were 0.25 percentage points less than budgeted
- Hong Kong had the largest gap between actual and budgeted in 2014, with the average actual merit increase 0.85 percentage points below budgeted
- Argentina had the biggest increase between budgeted and actual in 2014, with actual merit increase averaging 0.65 percentage points above budgeted
- Belgium had the lowest actual merit increase in 2014 at 1.7%.
The 2014-2015 CRO Industry Global Salary Planning Survey, conducted by HR+Survey Solutions, a specialty compensation consulting and research firm, provides industry compensation professionals with a clear picture of how salaries are increasing against planned budgets across the globe. Professionals utilize these data to keep abreast of trends in rapidly expanding employment markets.