CEO Survey results - Wages
| In 2009, by what percent will wages at your company increase overall? |
| |
2008 |
2007 |
Change from
2007 (% pts.) |
| At the rate of inflation (5%) |
38% |
53% |
-15.0 |
| Above the rate of inflation |
8 |
24 |
-16.1 |
| Below the rate of inflation |
33 |
14 |
+18.9 |
| Freeze pay |
14 |
3 |
+11.1 |
| Don’t know/not sure |
7 |
6 |
+1.1 |
Viewpoint Wages
Patricia J. Engfer
Hyatt Regency Orlando International Airport
General Manager
Orlando
At the Hyatt Regency Orlando International Airport, our 2009 wage increases will be commensurate with 2008 levels. Our pay is based on our employees’ quality of performance rather than their length of service, so their salary increases represent their contributions to the company. We also do an annual study of pay ranges within the hospitality industry to make sure that our rate of pay is competitive with that of other first-class hotels in the Orlando area. Based on demand for particular areas of expertise, such as culinary or engineering, we often make adjustments in what we offer as compensation. When we experience a drop in occupancies, we adjust our staffing schedules accordingly, but this doesn’t affect wage levels. Our workers’ earnings are also affected in another way. At Hyatt, all employees start at an entry level, but they can work their way to supervisory positions and then into management very quickly.
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