Rising Concerns Over Dry Promotions in the Workplace

Dry promotions are on the rise, with over 13% of employers choosing to give employees a raise in designation and responsibilities but no change in salary.

- Many companies have a low salary budget for promotions in 2024, leading to the increase in dry promotions.

- Dry promotions pose a risk of losing well-performing employees who feel unfairly compensated for their work.

- Employees may negotiate for compensation in other forms, such as more work-from-home options, flexible working hours, or extra paid time-offs.

- Employers need to convey dry promotions positively and show appreciation for their employees to retain and motivate them.

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