85% of Hotels Still Plan to Award Wage Increases in Spite of Economy
Employees at the vast majority of hotels in the U.S. will not see their pay frozen despite the down turn in the economy and hotel occupancy, according to a recent analysis performed by WageWatch, Inc.
Scottsdale, AZ, February 28, 2009 --(PR.com)-- Fifteen percent of surveyed hotels have indicated that their pay increase budgets were eliminated for 2009, but 85% of the hotels still have budgeted for this year’s wage and salary adjustments, which is good news for their staff.
"Most hotel operators realize that while they can downsize to cut costs, eliminating pay increases for those left will not bode well for employee retention or morale,” states Margaret Dyekman, President and Chief Operating Officer of WageWatch, Inc. In a sample of over 100 long-term survey participants, average pay increase budgets have dropped slightly, from about 3.5% per year to 3.1%, excluding those properties that decided to eliminate pay increases entirely.
“We still expect to see upward movement in wages, and there will differences between major city markets. Union contracts, labor supply and demand, and unemployment rates will make for an interesting year as hotel General Managers and HR Directors balance the external environment with internal financial pressures,” continued Dyekman. WageWatch collects compensation data and pay practices from over 2,500 hotel, casino, and country club properties across the United States annually for 260 jobs.
For additional information about the analysis or the survey, contact Travis Pullen at 1-888-330-9243, extension 210, or by e-mail: tpullen@wagewatch.com.
About Wagewatch
Wagewatch (www.wagewatch.com), the leading Web-based source for compensation and benefits data, provides instantly accessible industry wage, salary and benefits data, delivered to any Internet-enabled device. Using leading-edge technology, WageWatch surveys industries and provides companies with the data they need to make their compensation and benefits decisions. As a pure information provider, WageWatch gives its customers the ability to see what their competitors are paying and position themselves in their markets.
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"Most hotel operators realize that while they can downsize to cut costs, eliminating pay increases for those left will not bode well for employee retention or morale,” states Margaret Dyekman, President and Chief Operating Officer of WageWatch, Inc. In a sample of over 100 long-term survey participants, average pay increase budgets have dropped slightly, from about 3.5% per year to 3.1%, excluding those properties that decided to eliminate pay increases entirely.
“We still expect to see upward movement in wages, and there will differences between major city markets. Union contracts, labor supply and demand, and unemployment rates will make for an interesting year as hotel General Managers and HR Directors balance the external environment with internal financial pressures,” continued Dyekman. WageWatch collects compensation data and pay practices from over 2,500 hotel, casino, and country club properties across the United States annually for 260 jobs.
For additional information about the analysis or the survey, contact Travis Pullen at 1-888-330-9243, extension 210, or by e-mail: tpullen@wagewatch.com.
About Wagewatch
Wagewatch (www.wagewatch.com), the leading Web-based source for compensation and benefits data, provides instantly accessible industry wage, salary and benefits data, delivered to any Internet-enabled device. Using leading-edge technology, WageWatch surveys industries and provides companies with the data they need to make their compensation and benefits decisions. As a pure information provider, WageWatch gives its customers the ability to see what their competitors are paying and position themselves in their markets.
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WageWatch, Inc.
Max Lidster
888-330-9243x209
www.wagewatch.com
Max Lidster
888-330-9243x209
www.wagewatch.com
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