A few trends will determine your odds for improving you paycheck, according to Chicago-based accounting firm Kutchins, Robbins & Diamond. In their recent survey, they concluded:
- Job-loss fears will fade as the job market improves.
- Pay-for-performance plans will grow in popularity vs. automatic annual raises.
- In-demand specialists will be able to negotiate for higher salaries – if they change jobs.
New hires may see higher starting salaries as the economy improves and competition for talented people grows, but existing employees with skills and/or certification in red-hot areas may have to change jobs to see significant increases in their salaries.
Despite these trends, employers will be wise to take good care of staff people with significant skills. Otherwise, they risk losing them to their competitors.