Survey Finds Company Layoffs Expected to Decline

As the recession continues, companies are looking ahead and expecting to experience a long period of economic hardship. A new update to an ongoing series of surveys conducted by Watson Wyatt, a leading global consulting firm, shows that most companies have already made most of their intended sweeping changes. However, many expect to make further cost-cutting changes this year, such as salary and hiring freezes, and reduced 401(k) matching contributions.

“Companies have come to terms with the fact that this recession is going to last and that they can’t slash their way out of it,” said Laura Sejen, global director of strategic rewards consulting at Watson Wyatt. “Many companies are putting the drastic cuts behind them and are now focusing on smaller, more sustainable cost-cutting actions.”

According to the survey of 245 large U.S. employers conducted last week, 52 percent have made layoffs, up from 39 percent two months ago. However, the number of companies planning layoffs has fallen 10 percentage points from 23 percent to 13 percent. Additionally, 56 percent now have a hiring freeze in effect, an increase from 47 percent in December’s survey.

There has been a jump in the number of companies that have put into place other changes as well. These include salary freezes (up to 42 percent of respondents now from 13 percent in December’s survey), reductions in 401(k) matches (up to 12 percent from 3 percent), a shortened workweek (up to 13 percent from 2 percent) and travel restrictions (up to 69 percent from 48 percent).

Companies continue to change a variety of HR programs in response to cost pressures...

> Read the FULL Report at:
http://www.watsonwyatt.com/news/press.asp?ID=20684

Highest-paid exec pay dips 7.4 percent: ERI Economic Research Institute study

Total compensation of the highest-paid executives at publicly traded companies dipped 7.4 percent in the past 12 months, according to a recent study.

According to Redmond-based ERI Economic Research Institute, the executives’ overall total compensation decreased but base salaries remained about the same and other parts of compensation, including pension benefits and nonequity incentives, increased.

The average highest-paid top executive received $17.7 million in total compensation in February 2009, down from $19.1 million in February 2008. Executives were hit by a drop in stock options compensation, which was down more than 10 percent from last year.

ERI studied compensation data from a group of 45 companies it said it selected from nearly 6,500 companies that report compensation data to the Securities and Exchange Commission.

Source: http://triangle.bizjournals.com

Bachelor's vs. Master's: How Does Your Salary Stack Up? - Career Builder.com

These days, education is playing a bigger part in your career than ever before. More and more, employers are encouraging employees to take advantage of tuition reimbursement programs to go back to school -- but workers wonder if it's worth the time and effort.

Additionally, the unsightly job market is making college students rethink their entry into the real world. Instead, many students are continuing their education -- but they don't know if the extra credentials will help or hurt them when they do join the work force.

"The role that education level plays in your salary depends on the nature of the job and the relevance of your education," says Jim Brennan, senior associate at ERI Economic Research Institute. "A Ph.D. in physics won't earn you more money as a cab driver, but it will probably put you at the high end of the starting-pay scale for physical stress measurement technicians, and it may be merely an essential entry requirement for rocket scientists."

All else being equal, more formal education or advanced credentials in the specific field of work or occupational area will carry some weight in starting-salary offers -- how much difference will depend on the employers and their practices, Brennan adds. It's also important to remember that in this economy, the job market is more competitive than ever. While it may not boost your salary much in some cases, having higher education on your résumé certainly won't hurt.

Click Here to take a look at how starting salaries can differ based on the degree type and level,* according to CBSalary.com.

Data is taken from CareerBuilder and SalaryExpert research, and represent starting salary offers for recent graduates in 2008.

SalaryExpert.com offering a FREE Cost of Living Calculator for over 4,500 cities...

SalaryExpert.com Free Cost of Living Calculator

SalaryExpert.com has your city and state covered. The cost of living calculator provides easy to use cost of living comparisons for over 4,500 cities.

For HR executives and professionals they offer a FREE Demo below of the Cost of Living Software. The Relocation Assessor provides Cost of Living data for over 10,000 areas/cities including Canada.

The Relocation Assessor® is used by thousands of companies to compare cost-of-living levels in over 11,500 area worldwide. The demo edition provides access to a limited dataset for product evaluation purposes.

More Free Salary Tools at: SalaryExpert.com