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Are you paying your employees competitively?

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Are you paying your employees competitively? Increase in salary budgets is always advantageous for employees. However, in order to identify the true buying power differential of these increases, inflation needs to be considered. U.S. inflation, measured by the Consumer Price Index, has been relatively passive in recent years due to modest economic growth and lower commodity prices. For April, the 12-month CPI growth of 3.5% was reported for food, but this was more than offset by energy price declines of 17.7%. The April 2020 CPI for all items experienced 0.4% growth, and 1.4% growth for all items less food and energy. Much more data is available via the 2020 Cross-Industry Benefits and Compensation Report. READ MORE

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