Economics
You Can Probably Forget About That Pay Hike Matching Inflation
- About a quarter of executives don’t plan such raises: Survey
- Some companies bet that cost surge will ease up over time
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The hottest inflation in four decades has prompted some employers to open the spigot on pay, but plenty still won’t budge -- leaving workers in the lurch with a pay cut.
Nearly 1 in 4 executives said they’re not making any changes to pay in response to inflation, according to a poll by Gartner Inc., an increase from the 18% who said so in December. That reluctance -- fueled in part by expectations that inflation will ease -- comes amid a tight labor market and rising prices for everything from gas to guacamole. More than 6 out of 10 workers are concerned about their salary keeping up with inflation, a survey from the Conference Board found.