Most businesses plan to raise wages in 2024, but these raises will not necessarily apply to all employees, according to recent research from Resume Builder.
The report was based on data from a survey conducted in October 2023 among 600 business leaders (C-level executive, director, president/CEO/chairperson, owner or partner, chief financial officer, or HR manager).
Some 74% of respondents say their company is planning to give some employees raises in 2024, 8% say their company is planning on giving no raises, and 18% say their company is undecided.
Half of business leaders say 50% or less of employees at their company will receive a raise in 2024, and only 14% say all employees at their company will get a raise.
When asked which groups of employees, if any, they believe it’s most important to give raises to in 2024, 16% of respondents say entry level employees, 32% mid level, 18% senior level, and 17% executive level. Some 16% of respondents say no one group is more important than another.
About the research: The report was based on data from a survey conducted in October 2023 among 600 business leaders (C-level executive, director, president/CEO/chairperson, owner or partner, chief financial officer, or HR manager).
