The hospitality organizations surveyed have projected a slight uptick in 2010 to 2.5 percent.
The Compensation Data 2009 Hospitality survey results show pay increase budgets have fallen to 2.2 percent. With pay increase budgets down in 2009, the hospitality organizations surveyed have projected a slight uptick in 2010 to 2.5 percent. These numbers further reinforce predictions of little economic growth in the coming year.
“For many years, pay increase budgets were stagnate across all industries. The recent downturn is indicative of increased economic pressure,” said Amy Kaminski, manager of marketing programs for Compdata Surveys. “With layoffs commonplace, many companies are working to keep current employees on staff, while keeping the organization afloat.”
The 2009 Compensation Data Hospitality results found pay increase budgets are highest in the South Central region at 2.6 percent. The West follows with an average of 2.4 percent.Â Companies in the Southeast reported the lowest pay increase budgets at 1.7 percent.
Pay increase budgets vary within the industry. Casinos have the highest pay increase budgets, 2.5 percent. Resorts and hotels report pay increase budgets at 2.2 and 2 percent, respectively. The 2009 Compensation Data Hospitality results show projected budgets for 2010 are highest for hotels at 3 percent, followed by casinos, 2.6 percent.
About the Survey
Compensation Data 2009 Hospitality contains data on over 100 industry-specific job titles and more than 250 benchmark titles ranging from entry-level to top executives. Data is collected annually from employers across the country. The results provide a comprehensive summary of pay data, benefit information and pay practices with an effective date of March 1, 2009.
“Compdata Surveys offers pay and benefits data in eight, industry-specific sets of results for organizations across the country,” said Kaminski. “The results allow users to compare data by company size, region, state and local geographic area allowing customers to find information best fitting their needs.”
Compdata Surveys is the nation’s leading compensation and benefits survey data provider. Thousands of U.S. organizations provide data each year ensuring the reliability of our results. Compdata Surveys has been providing comprehensive data at affordable prices to organizations from coast to coast since 1988. For further information about the compensation and benefits surveys, contact Amy Kaminski at (800) 300-9570.