Reduced merit increases. Don't count on getting a large holiday bonus or merit pay increase next year either. Approximately 28 percent of employers have already reduced their merit pay budgets because of recent financial events, Watson Wyatt found. Among those employers, the projected raise is now 2.5 percent for 2009, down from 3.7 percent.
Layoffs
Hiring freezes
Higher health costs
Travel restrictions
Training cuts
Canceled parties
Salary freezes
Pension freezes
Cut 401(k) matches
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Typicalnecessary of 4:36PM January 01, 2010