HR pay: Has it hit bottom?

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in HR Management,Human Resources,Leaders & Managers,Management Training

Didn't get much of a raise in 2002? You're not alone. The struggling economy held HR pay in check as companies kept a tight rein on salary hikes.

Pay nudged up only slightly for 11 of the 12 most common HR jobs, averaging just 1.7 percent, says a new survey of 46,000 HR professionals by the Society for Human Resource Management. Senior compensation analysts and general recruiters saw the biggest increases, 4.2 percent over 2001.

The good news: The days of low raises won't last forever. The study says that, for many companies, the economic recovery will refocus businesses on solid HR strategy, which will likely strengthen HR pay.

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