Your competitors are holding the line on pay raises

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in HR Management,Human Resources

Employers may be seeing some signs of an improved economy, but they're not ready to commit to higher pay increases just yet, according to a new compensation-planning survey of 1,600 employers by Mercer Human Resource Consulting.

U.S. employers plan to dole out average pay increases of 3.3 percent this year, the same as they granted in 2003. The outlook is only slightly higher for 2005, with employers budgeting average pay increases of 3.5 percent.

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