ROLLING MEADOWS, Ill., Nov. 10, 2020 /PRNewswire/ — As business leaders around the U.S.
develop their 2021 operating budgets, the shadow of COVID-19 has forced nearly half of
organizations (45 percent) to reevaluate salary-increase plans, according to Gallagher’s
2020/2021 Salary Planning Survey. Researchers collected data from 1,283 organizations during
July and August 2020.
“Revenue streams and budgets will be unpredictable in 2021 and for these reasons, many
employers are pausing across-the-board salary increases,” said William F. Ziebell, CEO of
Gallagher’s Benefits & HR Consulting Division. “However the data shows more employers are
leaning into variable pay models because this allows them to provide employees with a pay
increase based on performance.”
