honoluluadvertiser.com

Sponsored by:

Comment, blog & share photos

Log in | Become a member
The Honolulu Advertiser
Updated at 3:55 p.m., Wednesday, August 6, 2008

Hawaii businesses plan to boost payroll budgets by average 3.8% this year and next

Advertiser Staff

Hawai'i employers increased their payroll budgets by an average of 3.8 percent this year and plan to raise them by another 3.8 percent next year, according to a survey by the human resources association, WorldatWork.

The survey found the average national increase was 3.9 percent this year and by a similar amount in 2009. The organization annually polls employers to see how much they are increasing their budgets. This year it surveyed 2,700 organizations representing 13.6 million North American employees.

"Pay increases are only one way an organization attracts and retains talent regardless of the overall economy," said Anne Ruddy, president of WorldatWork, in a news statement.

"Organizations continually evaluate the attractiveness of their entire rewards package and develop new programs accordingly."

The survey also found nine out of 10 employees can expect to receive base pay increases this year.