Cha-Ching! Workers Will Demand Pay Raises in 2015
The global economy is picking up steam which is giving workers confidence to demand pay increases from their employers and explore their options if they don’t get what they want.
According to a new Glassdoor survey, more than one in three (35 percent) employees indicated they will look for a new job if they don’t receive a pay raise in the next 12 months. What’s more is that Glassdoor’s U.S. Employment Confidence Survey found that nearly half (48 percent) of employees (including the self-employed) report confidence they can find a job matching their current experience and compensation levels in the next six months. It’s sort of a perfect storm for employers and employees.
"The job market is making a strong recovery and with that comes the reckoning of pay inequities and an increased awareness of salary transparency. Employees are making it known that they expect to get paid more in 2015. In fact, if they don't, they will jump ship and find a new opportunity. Therefore, it's time for employers to dust off the playbook from the economic growth years and pay attention to compensation practices that retain talent," said Rusty Rueff, Glassdoor career and workplace expert.