At a time when nearly one out of every ten workers is unemployed, it should come as no surprise that companies are being frugal when it comes time for doling out raises. According to data recently released by Hewitt Associates, the typical raise for non-hourly workers in 2009 is hovering just under 2%. That increase is the smallest percentage we've seen during the past 33 years. Worse still, 48% of the companies polled have salary freezes in place.
On the positive side, pay-for-performance compensation plans and bonuses linked to results are increasing in popularity, meaning top performers still have the opportunity to be rewarded for their contributions to the bottom line.
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