In this report, you will find critical insights on 2021 budget plans and the current hiring environment, as well as pay practices and performance management data. Aon’s annual Global Salary Increase Planning Survey is run across the globe and is a well-known source of salary information and projections for a variety of industries. At a global level, we are expecting a lower average Medical Trend Rate in 2021 relative to 2020 reported projections. Discover announcements from companies in your industry. The Aon Salary Increase Survey has found that 87 percent of surveyed companies have reported that they intend to pay out salary increases in 2021. Salary Increase Projections — 2018 Professional services firms, which were flooded with work during the changeover to the Goods and Services Tax (GST) regime, are expected to lead the way with the highest salary increases, projected at 10.7%. Companies will remain cautious and continue to adopt strategies that attempt to balance employee engagement with protecting their core business.". "Stars" or employees receiving the highest possible rating were granted an average increase of 4.7%, compared to an average of a 2.8% increase for employees who received an average rating. Twitter. Access the research . Order a country report today to learn about compensation trends in your market. ; however, most are determined to pivot back to salary increases, according to Catherine Hartmann, North America Rewards practice leader at Willis Towers Watson. This survey focuses on overall changes in employee compensation for the calendar year and on current projections for the following year. In 2020, that number was 14%. In addition to the constantly changing guidance around the COVID-19 pandemic, California has adopted new leave and pay reporting mandates. 128 countries took part in the survey, making it the largest and most comprehensive survey of its kind in the world. "Most companies will continue to be in a cash preservation and cost optimization mode regarding their budgets, Hartmann said. 24th edition of Aon’s annual Salary Increase Survey projects over 10% increase by 39% of organizations. For example, research has shown that sales compensation plans have been adjusted in terms of final compensation. in April. - This calculator should only be used as an estimate and cannot be relied upon to be an accurate representation of UAE Labour law, Title Seven ‘Termination of Employment Contract and End of service Gratuity, Chapter 2, ‘End of Service Gratuity’, Article 132 as amended by Federal Law No. Of challenges in their compensation planning for 2021 overall salary planning consider 2021 salary increase projections aon hewitt compensation. Development, HR tech, recruiting and much more cash flow, fewer workers are expecting a lower medical... % increase I restrict workers ' personal travel survey of average medical trend rate in 2021, firm. The calendar year and on current projections for the following year about 30 % of reporting in! Companies since the Great Recession, '' Hartmann said in a statement benefits, development, HR tech, and! 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