August 18, 2022
Why Bring Inflation At Work, Even If You Don’t Get A Raise Right Now

Employers are raising wages and adding perks to address workers’ inflation concerns, but if you haven’t seen anything out of your workplace, it may be a good time to apply some pressure.

Nearly two-thirds of US employers said they increased their compensation budgets this year because of inflation, According to a recent report by Gallagher that surveyed nearly 800 companies. Indeed, according to ADP data, in the second quarter of 2022, job-changers saw their salaries increase by 9.5% year-on-year, while the wages of job-holders increased by 7.2%.

But with inflation reaching 9.1% in June, many of those wage benefits are not enough to keep pace with rising living costs. If your recent growth hasn’t matched inflation, or you haven’t seen pay adjustments at all in the past year, it’s worth bringing your concerns and some solutions to the table, says Madeline Machado, a reverse recruiter in Tampa, Florida. Huh.

She says one is to ask for a raise — focus on how you helped the company save or make money, and that tied into inflation and a tight job market makes it a great time to adjust your salary. Is.

Even if you don’t get a “no” at the moment, Machado says it’s still worth communicating that you’re concerned about inflation. If you’re worried about it, your coworkers probably are too.

“When enough people have this conversation,” Machado says, “that’s the data that managers are going to bring to their compensation and finance teams. They’ll be able to say, ‘We’re having a lot of conversations about inflation. What are we going to do about it?'”

These discussions can lead to real action across the board: Recently, SimPro, a business management software company, announced an inflationary increase Up to 10% for each employee who earns less than $80,000 per year “to counteract the effects of inflation on simPRO’s employees.”

Even if you don’t secure a permanent raise, another solution is to ask about other non-salary allowances to offset inflation and the cost of a return to office. So far this year, Gallagher reports that employers are supporting workers’ increased cost of living by providing:

  • Flexible work schedules (61%)
  • Extended deadline for remote work (29%)
  • Free lunch or snack (19%)
  • Transportation Reimbursement (11%)
  • Extra payment time (10%)
  • Child Care Assistance (4%)
  • Housing Assistance (1%)

Machado wants people to remember that wage changes can take weeks to be approved and effective. Others, still, may not be able to make any changes for the foreseeable future.

“Even if you do all this, it doesn’t mean you’ll get the salary you’re looking for,” Machado says. “If it’s important to you, it’s time to get involved [job] Market.”

check out:

What is a good salary or raise to ask for now? How to Find Your Number in This Wild Job Market

3 Reasons Your Recruiter Haunted You, According to a Hiring Pro

This recruiter was fired and found a new job two weeks later—his best job-searching tips

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