The survey is a follow up to Willis Towers Watson's earlier survey conducted May through July of this year, which showed similar projections for the upcoming year. Most employers in the survey said they expected "a turn toward normalcy in 2021", according to the firm.
Other research has pointed to compensation increases in other areas. For example, September data from Salary.com showed that merit increases would rise to an average of 2.6% next year, an increase from the 2.4% mark forecasted for 2020, while median salary increase budgets were expected to remain at a flat 3%. Certain sectors of the economy may be more likely to see increases than others. The transportation and warehouse industry, for instance, has seen wage growth at 3.2% in the past year, whereas wage growth for sales jobs declined to 1.8% annual growth, according to data from PayScale.
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