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Where Do You See Your Salary in 1 Year?
Glassdoor® asked its participants if they expected a pay raise or a cost of living increase in the next 12 months. Here are the responses to that question:
- Fifty percent of employees expect a pay raise or cost-of-living increase over the next 12 months. This is the highest it’s been since Q4 2008.
- Thirty-one percent of employees don’t expect a raise or cost-of-living increase, and 18% have no idea.
- Fifty-six percent of employees aged 18–34 feel they are less likely to get a pay raise in the next 12 months while 43% of those aged 45–54 and 44% of those aged 55–64 feel the same way.
- Pay raise and cost-of-living expectations are approximately equal among men (51%) and women (49%).
- Forty-four percent of those earning less than $50,000 are less optimistic about receiving a raise or cost-of-living adjustment while those earning above that amount ranged from 58% ($75,000–$99,000) to 49% ($100,000 and up).
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Where Do You See Yourself in 6 Months?
Participants were asked if they felt they would be laid off in the next 6 months. Here are the results of that question:
- A total of 15% of employees are concerned they might not have a job in 6 months. This is down 2% from last quarter.
- Twenty-two percent of employees are concerned their coworkers might get laid off in the next 6 months, down 2% over last quarter.
- Nineteen percent of men were concerned about being laid off in the next 6 months over only 9% of women.
- Twenty-two percent of participants aged 18–34 had concerns about losing their job, while only 12% of those aged 35–44 were similarly concerned, and a mere 7% of those aged 55–64 felt the same way.
- Employees in the Western United States were more concerned (28%) about being laid off than those in the Midwest (11%), the Northeast (12%), and the South (9%).
The big question is: What do employees really want, and how can employers give it to them? You’ll find the strategies you need in the new guide, The Total Rewards Framework: Build Loyalty, Engagement, and Retention.
This third HR Playbook from BLR provides practical guidance on everything from effective compensation strategies to innovative benefits to perks and rewards—and how HR can combine them to not simply retain, but engage.
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You’ll learn practical guidance on building a solid total rewards program, including:
- Implementing your total rewards framework
- Developing your compensation strategy
- Challenges and options regarding variable pay and benefits
- Perks and rewards (many at low or no cost)
- How to reward different categories of employees effectively
- And much more!
You value your employees—be sure they know just how much. Start strategizing today with The Total Rewards Framework: Build Loyalty, Engagement, and Retention.