How many of your employees are quietly biding their time until the market improves to talk about their salaries?
According to a recent survey by Robert Half International and CareerBuilder, more than one-quarter (28%) of employees are planning to ask for a raise as soon as the economy improves.
Additionally, just about half (49%) of those surveyed said pay raises will be the most effective retention tool after the recovery.
Some other key findings from the survey included:
- 40% of hiring managers said pay increases would be their company’s primary means of retaining top performers, and
- 20% of employees said the most effective retention tool would be better benefits and perks once the economy improves.
The top benefits and perks participants cited: technology upgrades, followed by tuition reimbursement or subsidized training.