Raises for many employees this year have come in too little, too late. According to a recent Robert Half survey of more than 1,000 U.S. workers, roughly one-third (34%) said they haven’t had a raise in the last year, and 16% said they received one but were disappointed with the results.
The majority (62%) of survey respondents plan to ask for a raise this year for the following reasons:
- To adjust for the higher cost of living (30%)
- To reflect current market rates (23%)
- To account for additional job responsibilities (22%)
If workers don’t receive a raise, 31% will ask to revisit the conversation in a few months, 27% will look for a new job with higher pay, and 23% will ask for more perks.
Robert Half senior executive director Paul McDonald noted that career advancement and remote options are two big priorities for today’s workers. “In addition to setting competitive salaries, companies must consider the entire employee experience and deliver programs that satisfy their professional and personal needs,” he said.