From quietly quitting to boomeranging, the workplace has seen many trends over the past few months. And now a new workplace trend this can be worrying employees On the rise. In the name “dry promotion“, emphasizes the tendency of many to grow employers Giving raises to its employees in terms of assignment and responsibility, but not making any changes in their salaries.
According to a report by compensation consultant Pearl Meyer, more than 13% of employers have recently opted to give employees a dry promotion rather than increasing their pay. In 2018, this figure was 8%, according to The Wall Street Journal.
Moreover, a survey of 900 companies by Mercer (a benefits consulting firm) found that many employers have a low income. salary budget For increases related to promotions in 2024 compared to the previous fiscal year.
dry promotions These rates appear to be increasing at a time when many companies are choosing to cut costs and layoffs, putting employees at risk of asking for a raise. And for many employees, this could be a worrying upward trend that could quietly push them to quit.
It is stated that in the past, employers gave fair raises along with promotions to retain their well-performing employees. However layoffs and dry promotions are on the rise, leaving well-performing employees with few options; They will either accept dry promotions or look for a job where they will be paid a fair wage for the amount of work they do.
Employees who do not have the option to leave their job due to various personal reasons may receive more work from home options from their employers, flexible working hours, extra paid leaves, etc. They may also seek compensation through other means. and negotiate what is best for them.
Meanwhile, employers need to know that in order to retain their best-performing employees, they need to convey dry promotions in a positive way and that this depends on the amount of trust between employees and employers. Employers need to show that they value and appreciate their employees and motivate them to work better by compensating them in other ways, such as providing better on-the-job learning and training or offering flexible working hours; all of which can make employees feel more comfortable. at the workplace.
According to a report by compensation consultant Pearl Meyer, more than 13% of employers have recently opted to give employees a dry promotion rather than increasing their pay. In 2018, this figure was 8%, according to The Wall Street Journal.
Moreover, a survey of 900 companies by Mercer (a benefits consulting firm) found that many employers have a low income. salary budget For increases related to promotions in 2024 compared to the previous fiscal year.
dry promotions These rates appear to be increasing at a time when many companies are choosing to cut costs and layoffs, putting employees at risk of asking for a raise. And for many employees, this could be a worrying upward trend that could quietly push them to quit.
It is stated that in the past, employers gave fair raises along with promotions to retain their well-performing employees. However layoffs and dry promotions are on the rise, leaving well-performing employees with few options; They will either accept dry promotions or look for a job where they will be paid a fair wage for the amount of work they do.
Employees who do not have the option to leave their job due to various personal reasons may receive more work from home options from their employers, flexible working hours, extra paid leaves, etc. They may also seek compensation through other means. and negotiate what is best for them.
Meanwhile, employers need to know that in order to retain their best-performing employees, they need to convey dry promotions in a positive way and that this depends on the amount of trust between employees and employers. Employers need to show that they value and appreciate their employees and motivate them to work better by compensating them in other ways, such as providing better on-the-job learning and training or offering flexible working hours; all of which can make employees feel more comfortable. at the workplace.
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