Not All Workers Optimistic About Getting a Raise This Year
CREDIT: Pay Raise Image via Shutterstock
Employees are split on the prospects of getting a pay raise this year, new research has found. Nearly 40 percent of American workers said they were not optimistic about the prospect of receiving an above- inflation pay raise this year. That number, however, was still slightly more optimistic than the global average of 45 percent of workers who said it was unlikely they would receive an above-inflation pay raise.
Although the United States may be more optimistic about their prospects for a raise than other countries, the research is hardly a ringing endorsement for workers around the world. European workers were among the most pessimistic workers when it came to getting a raise this year. The worst offenders were workers in the United Kingdom, 70 percent of whom did not anticipate getting a raise this year.
"These results not only highlight the economic realities of many employees, but also immense opportunities for businesses," said Brad Everett, vice president of strategy, marketing and portfolio management at NorthgateArinso, which conducted the research. "Business leaders should be asking about other ways to make sure that their talent feels valued. After pay, relatively low-cost initiatives such as flexible working and wellness programs, like on-site trainers, are hugely prized by employees and these are changes that companies can easily make to show how they value workers."
Workers, however, were also pessimistic about the potential of receiving those benefits from their employers. Nearly 70 percent of global respondents and 73 percent of American workers said their companies had not adapted to the current economic situation by offering benefits other than pay increases.
The information in this research was based on the responses of more than 1,300 respondents from 21 countries around the world. The research was a part of the 2012 Pay Optimism Scale conducted by NorthgateArinso, a provider of human resources software and services.