The survey polled 525 executives from mid-market companies with revenue between $50 million and $1 billion per year.
Some 32% of respondents expect to pay their workers more during the next year, compared with 24% in a survey conducted last fall.
"We're seeing increasing voluntary turnover in these businesses," said Roger Nanney, a vice chairman with Deloitte. "With a strengthening labor market, it's important for these executives to pay more attention to retaining these employees."
Meanwhile, the survey also found mid-market companies are spending less on capital investments.
Some 43% said they'll increase spending on capital investments, compared with 47% last fall.
"There's a pause when it comes to companies that are making major investments," Nanney said, although he said companies are still investing in technology to try to improve productivity.
"There are a number of factors the survey points to including the strengthening dollar, which has impacted their ability to sell (products) overseas," he added. "We still see strong spending on major investments, just not as high of a percentage as we've seen in previous surveys."
Executives at mid-market companies remain optimistic. Some 39.4% think the economy will grow between 2% and 3.5%, compared with 35% last fall.
At the Federal Reserve's meeting last week, central bankers downgraded their forecasts on gross-domestic-product growth to 1.8% to 2% from their projections of 2.3% to 2.7% growth made in March.