Human Resources

Pay Trends of 2014

Pay Trends for 2014

Pay raises in 2014 will remain at an all time low, nearly 1 percentage lower than pre recession pay raises (Miller, 2013). Since 2008 there has been talk about improvements in the economy this only proves things have not yet improved enough. Businesses are choosing to keep ten year employees and offer what they need to keep them working longer versus hiring and training new employees. Existing employees are well suited mentors and many cannot afford to stop working due to their retirement planning losses in 2008. While companies cannot afford to continue pay raises they are making changes to the work environment to keep employees working longer like electronic devices in line assembly to ward off arthritis.

One would assume that because the number of unemployed keeps piling up that there would be an ocean of talented individuals to fill positions that employers are looking for. However it seems that in jobs like IT employees in the U.S. continue to be more of an expense to companies and the positions are being outsourced to cheap talent in other countries. Some pay raises or benefits are being used to get employees to find affordable healthcare outside of their existing company to help business and avoid cutting hours to part time. The alternative would result in no benefits and extra cost to employees with less pay and hours.

Right now employers are attempting to keep existing employees and this remains a priority to keep business strong and full of talent. This may however pose an issue to those who are looking for jobs since hiring new employees will not be a priority. One of the theories is that finding and keeping a job has become more competitive and talent will be more recognized as the company continues to nurture growth and stop new hiring to prevent more long term spending. The foundation of this article is to remind individuals that the recession has not ended and competition within companies is increasing....