Fewer Promotions for American Workers
In the current economy, many workers are resigned to staying in their current places of employment until opportunity knocks sometime down the road. This hunkering down may take many different forms– from a heightened effort to getting along with that cranky co-worker to asking a boss for additional responsibilities. Does this loyalty to one’s employer have beneficial, fiscal results for employees?
A recent study released by WorldatWork reports that few workers are receiving raises in the present economy, even in the form of promotions. The survey of 720 U.S. organizations found that, overall, respondents report an average of 8.1% of the employee population receive promotions in a typical year down to 7% in the most recent survey.
If looking for a new job, it may be worthwhile to conduct a little investigative research on potential places of work. Some companies have managed to continue to budget for promotions, even during this recession. Although these promotions may be coded for many additional responsibilities, there may be a feeling of greater enthusiasm and purpose in a workplace where co-workers can expect opportunities for increase in pay on a regular basis.