No fun sharing bad news, but I guess it's part of my job. A few clients have been in touch requesting the most recent data on pay freezes and cuts - and as it happens, new research in this regard has been released in just the past week.
The tables below feature a summary, prepared by me, of the most recent information I've been able to find on pay freezes and cuts, from studies released by Hewitt Associates, Watson Wyatt, Hay Group and Mercer. (Note also that the releases and reports behind these links feature a lot of information beyond pay freezes and cuts, so you may want to click through and take a look.)
It appears that a lot of decisions to freeze or reduce wages/salaries have happened in the last month or so, as you can see in the jumps from the March and January studies to those completed more recently.
Hopefully we're reaching the end of it.
Great resources. Thanks for your research, and putting forth the timely materials for us digest.
Posted by: Vita Taylor | April 29, 2009 at 09:40 PM
Vita:
Glad that you found it helpful!
Posted by: Ann Bares | April 30, 2009 at 06:12 AM