Recognition

Merit pay trends

Want a raise for all your good work? You might have to move.
[ 2007-11-07 ]

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Merit pay increases are on the rise for workers in Asia-Pacific countries and Latin America, topping those of U.S. and European employees, according to a new survey.

While the amount of merit pay workers can expect to receive will remain steady, employees in quickly developing regions will enjoy a higher of percentage raises, according to the survey by consulting firm Watson Wyatt Worldwide and WorldatWork, an association of human resource professionals.

Merit-based pay is expected to increase 5% next year in the Asia-Pacific region and 4.5% in Latin America, compared to 3.6 % in the U.S. and 3% in Europe.

However, companies are focusing more on rewarding high performers with bonuses, the survey found. At the same time, more workers are becoming eligible to receive incentives, but the goals are becoming harder to reach.




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