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Many companies slowly restoring pay cuts

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UNDATED (WSAU) Many Wisconsin companies are slowly restoring the employee pay-and-benefit cuts they imposed during the recession. The employers’ group of M-R-A said 84-percent of the 500 companies it surveyed in Wisconsin, Iowa, and northern Illinois planned to give pay raises next year. That’s after 65-percent granted raises this year, and only 46-percent did so in 2009.

Meanwhile, many firms are again contributing to employees’ retirement accounts. But analysts say the increases are modest at best. Milwaukee Metro Association of Commerce president Tim Sheehy says the operative word is still “uncertainty.” Scott Tracy of the Clifton Gunderson accounting firm in Wauwatosa says companies are feeling a little more confident – but they’re moving cautiously, as concerns remain about a stalled recovery or another recession.

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