It may not be business as usual, but a majority of employers are optimistic that they will reverse hiring and salary freezes within the next 12 months.
A recent Watson Wyatt survey found that 62% of companies that have made hiring freezes and 69% of those that have made salary freezes plan to eliminate them within the next 12 months. In addition, 48% that have reduced their employer retirement plan matches plan to reinstate them in the same timeframe.
However, not all the changes made during the economic crisis will be rolled back. Although 60% of employers plan to reverse salary reductions-55% within the next year and 5% within 18 months-one in five employers will keep them in place, and another 20% are unsure. In addition, nearly half do not plan to reverse the increases that employees now pay in health care premiums.
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