Salary outlook for 2023-24: What companies are thinking about while deciding on giving you a raise

Aon, a consultant, has released studies that show the possible thinking within companies' leadership when finalising salary increases. Macroeconomic factors, such as inflation, will influence some of the decisions made about salary pools. Those looking to limit the increase in salary pools will point to emerging issues and narratives such as possible recession or the rise in interest rates. On the other hand, those looking to increase salary pools will be keen to retain good employees and manage the competition for scarce talent.