Most businesses plan to raise wages in 2024, but these raises will not necessarily apply to all employees,according torecent research fromResume Builder.
The reportwas based on data from a survey conducted in October 2023 among 600 business leaders (C-level executive, director, president/CEO/chairperson, owner or partner, chief financial officer, or HR manager).
Some 74% of respondents say their company is planning to give some employees raises in 2024, 8% say their company is planning on giving no raises, and 18% say their company is undecided.
Half of business leaders say 50% or less of employees at their company will receive a raise in 2024, and only 14% say all employees at their company will get a raise.
When asked which groups of employees, if any, they believe it’s most important to give raises to in 2024, 16% of respondents say entry level employees, 32% mid level, 18% senior level, and 17% executive level. Some 16% of respondents say no one group is more important than another.
About the research:The reportwas based on data from a survey conducted in October 2023 among 600 business leaders (C-level executive, director, president/CEO/chairperson, owner or partner, chief financial officer, or HR manager).