Salary projections for HR employees in 2014 are in: increases are projected to hold steady. For the second year in a row in the United States, average base pay increases will remain at 3 percent. Although employers remain cautious with their salary budgets, pay rates are gradually approaching close to where they were before the onset of the recession. According to Salary.com, a human resource generalist can make anywhere from $34,000 to $55,000 in Bangor, ME. In addition to tougher performance ratings and consistent pay and promotions, several other key projections have been identified for HR employees in 2014, including:
- Talent retention. It may come as no surprise that talent retention remains a top priority for HR employees. While a handful of companies do anticipate adding to their workforce in 2014, the main emphasis for most employers is a strong focus on employee retention.
- Affordable Care Act. With the Affordable Care Act in full swing, HR employees will have additional responsibilities and considerations in 2014. At the time of the most recent Compensation Planning Survey, 8 percent of respondents had indicated that work hours for part-time employees had been capped, while an additional 12 percent responded that they were considering the same action. Many of these respondents are providing incentives for employees to obtain benefits through another source.
- Larger base pay. One notable difference for 2014 versus the previous year is the adjustment of salary increases for employees with specialized skills. As opposed to sales and engineering employees in 2013, workers in IT and medical professions are projected to receive the largest base pay increases.
- Top performers. Salary increases associated with being among the highest rated employees have also increased for 2014. On a five point scale, salary increases are expected to jump to 4.3 stars in 2014 from 4.1 stars in 2013.
When determining pay raises for the new year, it is helpful to review current industry trends and projections. Not only will this help you ensure that your employees receive what they deserve, but it will also help you retain your best employees by maintaining an edge over the competition. Springborn Staffing of Bangor, Maine prides itself on staying one step ahead of the curve to help its clients thrive and excel in Northern Maine staffing solutions. For a consultation on how to understand 2014 salary trends in HR, contact Bangor, Maine’s top staffing resource at Springborn Staffing today!