Help Employees Escape Financial Dire Straits (and Improve Your Bottom Line)
August 25, 2008—When employees are worried about money, they're less productive, less healthy, and distracted, explains Louis Falzetti, who works with Dave Ramsey of radio and TV fame, as executive vice president at the Ramsey organization. Falzetti says that financial stress actually costs between $750 and $2,000 a year per employee. The situation is dire, but employers are in a position to help by providing for personal financial education.
The average planned merit increase reported in BLR's 2009 Pay Budget Survey is 3.71%, slightly higher than the actual average merit increase of 3.67% reported for 2008. Participating employers were also asked whether
they would award general salary increases in 2009, and the average planned by those who responded is 3.47%, compared with 3.40% given in 2008. More than 1,600 organizations participated in the survey, which was conducted in June and July of 2008.
The following 10 articles are the most popular among Compensation.BLR.com readers in the last 90 days. The articles are available to both subscribers and non-subscribers.
The following 10 articles are the most popular among Compensation.BLR.com readers in the last 90 days. The articles are available to both subscribers and non-subscribers.
