training & development
A New Normal
PROMOTIONS WITHOUT A RAISE CAN STILL BE MOTIVATING
One of your top performers has filled the same role for
several years and gives their all every day. You’ve been
impressed by their leadership skills and think they’re
ready for more responsibilities. A promotion is the next
logical step. But what do you do when a worker is ready to move
up, but you can’t offer a salary increase?
Limited budgets are redefining the very notion of promotions.
To compensate, human resources departments are finding creative
ways to reward hardworking staff. In fact, promotions without a
monetary component are increasingly common. Of the HR man-agers
polled for a recent OfficeTeam survey, 47 per cent said it was
a regular practice – compared to 25 per cent seven years ago.
Employees have come around to this “new normal.” Of the
workers OfficeTeam surveyed, 55 per cent would accept a pro-motion
without a bigger paycheque. More men (59 per cent)
than women (51 per cent) are open to the idea. The younger the
respondent, the more willing they are to forego the raise if their
job titles were upgraded.
IMPORTANCE OF REWARDING EMPLOYEES
Why would a company even want or need to promote a worker
when there isn’t an empty slot higher up on the hierarchy? The
answer in one word: appreciation. When workers don’t feel valued,
they start disengaging from their job. Unhappy employees lead to
By Koula Vasilopoulos
rudall30 / 123RF Stock Photo
HRPROFESSIONALNOW.CA ❚ AUGUST 2018 ❚ 37