Purchase the Global Results of the 2023 Salary Increase and Turnover Study

Set Your 2024 Pay Strategy with Fresh Salary Budget Data

In a year of accelerated business uncertainty and workforce change, maximizing your efforts to attract and retain the best talent is still top of mind. Amidst this backdrop, it’s more important than ever to use a data-driven approach to plan for your 2024 salary budget needs and set your pay strategy with confidence so you can engage and retain your key talent in the critical months ahead.

To help address this need, we're excited to present the release of our 2023 Salary Increase and Turnover Study results, featuring input from 2,100-plus participating companies on pay trends across 120-plus countries. In this report, you will find critical insights on 2024 budget plans and the current hiring environment, as well as pay practices and performance management data.

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What is covered in the 2023 report?

This edition provides actual 2023 salary increase budgets and turnover trends as well as projected budgets for 2024. The full table of contents includes:

• Budget and actual increases by country and industry (delivered in Excel)
  • Merit
  • General increases
  • Special adjustments
  • Promotional
• Turnover for total population including sales by country and industry (delivered in Excel)
  • Overall
  • Voluntary
• Pay practices (delivered in PDF)
  • Workforce planning
  • Talent identification (e.g., high potentials, critical talent/key positions and top performers)
  • Performance management
  • Pay increase philosophy and approach
  • Salary increases
  • Promotions
  • Special adjustments
  • Across-the-board increase/General increase
  • Structure movement
  • Regrettable turnover

Images shown are for illustrative purposes only and may not reflect actual data.

Who participated in the study?

More than 2,100 companies in tens of industries participated in our 2023 study, including: