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02/26/2019

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Dan,

Thanks for the post. It's always fun to be introduced to a new and useful word!

I've wondered about the "Everyone else is doing it" aspect of salary planning. We go out, see what level of salary increase has been forecast by our favorite collection of compensation "Carnacs" - and then apply it to our programs. It becomes a self-fulfilling prophesy.

If all of the major purveyors of pay prognostications came out and said, "For 2020, the average salary increase will be 5%," would we actually see 5% budgets? Have the forecasts themselves become part of the problem of low wage growth?

It makes me wonder how we would set our salary increases if those forecasts weren't available to us?

Your challenge to us all to "find or create best" resonates (and it sounds like it should be the title of a book!). It is as aspirational as it is inspirational!

Thanks for the reminder, Dan!

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