Is 2009 the Year of Shrinking Pay?


shrinking_dollar

More than one-third of U.S. employees report they have not received a raise this year or that their compensation has decreased, according to a Tell It Now(SM) poll by ComPsych Corporation.

“We continue to see increased call volume from employees who need help managing their finances in this challenging environment,” said Dr. Richard A. Chaifetz, Chairman and CEO of ComPsych. “Our customers, realizing the need for supporting and educating employees with financial information, have been promoting the EAP as a place to turn for help as well as scheduling personal finance seminars for their workforce.”

Employees were asked: Has the economic downturn impacted your work? If so, in which area have you experienced the greatest impact?

  • 39 percent said they haven’t received a raise or their compensation has decreased
  • 20 percent said there is more conflict/stress among coworkers
  • 11 percent said they are doing more work due to employees that were laid off
  • 10 percent said they are working more hours/unable to take as much vacation
  • 20 percent said it has not impacted their work

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s