Something to look forward to next year: There’s a higher chance for you to get salary increase this 2020

  • There could be a higher chance for employees to receive a salary increase next year
  • According to a report released by the human resources consulting firm, Mercer, several businesses are considering to give pay hikes in 2020
  • The forecast also shows that businesses are more interested to retain talents by offering higher pay rather than hiring new employees

This coming 2020, there is something interesting that you might actually look forward to as an employee.

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There are many reasons why employees tend to look for a new job despite working in a company for years. It is undeniable that some choose to break up from their current posts when they find better opportunities and better compensation.

According to a report released by the human resources consulting firm called Mercer, several business are considering to offer pay hikes next year. This is their way to make their employees stay longer and feel satisfied about their jobs.

Based on the forecast results of their 2019 Philippine Total Renumeration Survey, salary increase may grow up to 6 percent in 2020, higher than 2019’s 5.5 percent.

Moreover, firms that deal with consumer goods, energy, and technology are the ones who will most likely receive the highest increases, based on an article from Female Network.

However, this is not entirely good news for everyone.

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Among the 433 companies from various industries they have surveyed, only 45 percent are expected to hire new employees. This is less than last year’s result which was 50 percent.

Hiring may slow down next year as many business are more interested to offer higher pay in order to retain their talents.

It may be a bit too early to assume something. But then, it would be really nice if Mercer’s forecast will come true this coming 2020!