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November 10, 2006
Chicago salary increases remain flat
at about 3.5% - at least according to the just-released 2006 Chicago Benchmark Compensation Survey prepared by Watson Wyatt Worldwide, and co-sponsored by the Chicago Compensation Ass'n and the Society of HR Professionals. Attending the release program yesterday, I found out that the participating companies report a relatively high turn-over rate of 15%, that severence continues to vary by level & longevity, and that employers are implementing few "work/life" policies.
The study also confirmed one of my suspicions: more is being expected for less. Specifically, increased performance expectations exceed raises in compensation.
Posted by danfelix at November 10, 2006 02:27 PM
Comments
It's both painful & hard to understand why these employers aren't offering more life/work balance perks - especially because often the cost is lower and the benefits higher than salary. A few examples are: compressed workweek, job sharing, flextime, and telecommuting.
[commenting to my own blog! hmm!]
Posted by: Dan Felix at November 12, 2006 12:22 PM
