56% of employers polled indicated their workforces are concerned about the impact of new economic policy realities on base pay increases.
23% of organizations are expecting tariffs and ongoing economic volatility to result in reduced pay increases for the balance of the year.
Employers are encouraged to communicate with their employees during this economic uncertainty and prepare them for potential changes in pay practices.
Employers are advised to strategize for potential tariff impacts on total rewards programs and consider making discretionary adjustments in incentive plans based on the evolving economic situation.