Following a drop of more than 2,000 points in the Dow Jones Industrial Average in early October, we surveyed our readers to find out whether employers were revising their pay increases planned for 2009. Between October 24 and October 29, we received 518 responses. Below are the results of the survey. (Read the full story here.)
| 1. How many employees does your organization have? | ||
| Response Percent |
Response Count |
|
| Over 1000 | 20.2% | 151 |
| 500-1000 | 7.9% | 59 |
| 100-499 | 35.0% | 262 |
| 50-99 | 16.3% | 122 |
| Less than 50 | 20.6% | 154 |
| 2. Are you “for profit” or “not for profit”? | ||
| Response Percent |
Response Count |
|
| For profit | 72.1% | 537 |
| Not for profit | 20.4% | 152 |
| Government | 35.0% | 56 |
| 3. Is your organization changing pay budget plans because of the economic situation? | ||
| Response Percent |
Response Count |
|
| Yes | 39.9% | 298 |
| No | 24.6% | 184 |
| Under Consideration | 30.5% | 228 |
| Do not know | 5.0% | 37 |
| 4. What kinds of changes are you considering? | ||
| Response Percent |
Response Count |
|
| No changes | 23.0% | 152 |
| Reducing pay budget | 39.1% | 258 |
| Delaying effective dates of raises | 14.7% | 97 |
| A freeze on all raises | 24.7% | 163 |
| Smaller (or no) rate range increases | 33.9% | 224 |
| Other | 89 | |
| 5. What percentage is your organization currently budgeting? | ||
| Planned Increase |
Response Count |
|
| Merit increases | 2.8% | 641 |
| Cost of living | 1.2% | 452 |