But more generous benefits could sweeten the deal.
If the low unemployment numbers make you think that you’ll finally get a bigger raise in January, think again. Most large employers plan to boost salaries for 2018, but the average increase will be about 3%— roughly the same as it has been for the past three years, according to consulting firm Willis Towers Watson. Many companies are using a backdoor approach to boosting employee compensation, however, by sweetening benefits that could improve your bottom line.
The modest increase in annual raises would seem to defy Economics 101. The unemployment rate has been below 5% since May 2016. Many companies are having a hard time filling positions, particularly for skilled workers. Typically, when the demand for workers grows, wages go up.
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A SOLID YEAR FOR THE KIPLINGER 25
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