State:
Free Special Resources
Get Your FREE Special Report. Download Any One Of These FREE Special Resources, Instantly!
Featured Special Report
Claim Your Free Copy of Overtime Primer: Highlights from the New Regulations

The federal DOL overtime regulations go into effect this year. Are you ready?


Download Now!




This report includes a summary of key changes, including the salary level test and salary basis test.

As a bonus, we've included a handy flowchart to help you determine exemption status under the FLSA.

Download Now!
October 20, 2009
Bonuses to Be Trimmed at Most Firms

Most organizations say they are reducing bonuses as a cost-saving measure, according to a survey of chief financial officers and senior comptrollers by Grant Thornton LLP.

For a Limited Time receive a FREE Compensation Market Analysis Report! Find out how much you should be paying to attract and retain the best applicants and employees, with customized information for your industry, location, and job. Get Your Report Now!

Fifty-five percent of respondents said they are reducing bonuses, the most popular cost-saving measure identified in the survey, followed by reducing pay raises (42 percent), decreasing stock options and similar compensation (34 percent), trimming healthcare benefits (33 percent), and lowering the 401(k) matching contribution (26 percent).

In terms of pricing pressure, 77 percent of respondents said they are most concerned about the price of employee benefits, while 31 percent are concerned about insurance, and another 30 percent about raw material costs.

Twenty-four percent of respondents said they are more worried about their organization's ability to continue as a going concern compared to this time last year. Thirty-one percent of respondents said they are less worried this year than they were last year.

Featured Special Report:
Top 100 FLSA Overtime Q&As
   
   
 
 
Twitter  Facebook  Linked In
Follow Us
CT-WEB02
Copyright © 2016 Business & Legal Resources. All rights reserved. 800-727-5257
This document was published on http://Compensation.BLR.com
Document URL: http://compensation.blr.com/Compensation-news/Compensation/Compensation-Administration/Bonuses-to-Be-Trimmed-at-Most-Firms/