More Than Half of CFOs Plan No Salary Changes in the Next Six Months

More Than Half of CFOs Plan No Salary Changes in the Next Six Months

WorldatWork.com

More Than Half of CFOs Plan No Salary Changes in the Next Six Months

April 20, 2010 — Just over half (53%) of U.S. CFOs and senior comptrollers said they plan no salary changes in the next six months, while 32% plan to decrease and 15% plan to increase, according to a national survey.

The survey, conducted by Grant Thornton, found that there is little chance for an increase in bonuses, as 47% plan no change, 44% plan to reduce, and only 8% plan to increase. In terms of pricing pressure, 68% are most concerned about the price of employee benefits, while 29% are concerned about raw material costs and another 26% are concerned about energy costs.

The survey also found that 12% said that they are more worried about their organization’s ability to continue as a going concern compared to this time last year.

Is your company reducing average costs per employee in any of these employee benefit and compensation areas? (Check as many that apply.) Increasing Reducing Same 401(k) match 5% 21% 74% Bonuses 8% 44% 47% Disability benefits 1% 10% 88% Health care benefits 6% 29% 66% Life insurance benefits 2% 11% 86% Salary raises 15% 32% 53% Stock options and other forms of equity-based compensation 5% 29% 66%

About which type(s) of pricing pressure are you most concerned? (Check all that apply.)

• 68% — Employee benefits (e.g., health care, pensions)
• 29% — Raw materials (food, metals, etc.)
• 26% — Energy
• 19% — Insurance
• 17% — Other

Compared to this time last year, are you more or less worried about your organization’s ability to continue as a going concern?

• 12% — More worried
• 44% — About the same
• 44% — Less worried

Are you having difficulty in accessing credit in general?

• 23% — Yes
• 77% — No

About the Survey
Grant Thornton LLP conducted the biannual national survey from March 22-April 5, 2009, with 496 U.S. CFOs and senior comptrollers participating.

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http://dreamlearndobecome.blogspot.com This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.