Firms with a pay-for-performance element of their overall compensation strategy have stuck to their guns this year, according to a new Buck Consultants survey. Of the more than 250 employers polled, short-term incentives, typically annual and based on company-wide performance, were most prevalent at 61%, topping bonus programs based on business unit, team or individual performance.

Average salary increases in FY 2009 ranged from 1.2% to 2.0%, depending on employee level. Increases planned for next year will be up slightly, ranging from 2.5% to 2.8%. Don’t pop the champagne just yet, though; pay practices are still not out of the woods.

“It’s likely that any upward adjustment in salaries will occur at a much slower rate than the drop that took place, and there is a good chance that future pay increases will remain lower than past levels for a while,” says Tom Burke, principal at Buck.

Some companies may actually have money for bonuses but don’t realize it. The survey found that 54% of respondents overlook a hidden funding source for rewarding top performers: money that was budgeted for salary increases but not spent because of turnover or poor performance.

The survey was conducted in September, and examined salary increase budgets, short-term incentives, and pay-for performance practices.