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Dry promotions: Definition, considerations, and guidelines for employers

BMT Office Administration

Getting a promotion is an exciting event for employees. However, some of that excitement is probably due to the pay raise that they expect will come with the promotion. But sometimes employers offer promotions without an increase in pay, a growing phenomenon called dry promotions. What is a dry promotion?

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Should Your Company Be Labor Hoarding? HR Leaders Share Why They Believe The Answer Is Yes

Allwork

For example, companies are reluctant to offer more robust benefits packages due to limited budget and conservation of resources, which is a wise fiscal decision, but from an employee’s perspective — quite frustrating.

Payroll 279
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7 Types of Competitive Advantages and How to Develop Yours

Success

If your budget is too limited to offer competitive salaries, what other perks do you offer ? As a personal example, I had a client who offered two night classes with equal marketing budgets. The client reaction was to pour nearly all of the marketing budget into the failed offering rather than grow the successful one.

Budget 279
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The 6 Biggest Financial Mistakes to Avoid in Your 30s

Success

For example, in addition to an employer-established 401(k), they may want to invest in a Roth IRA and brokerage accounts if extra income allows. They don’t realize how much children are going to change the household budget and make adjustments ahead of time,” she says.

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Over one quarter of employees do not trust their CEO to be honest and transparent

Workplace Insight

The data suggests that transparency around pay and other factors, including rewards and promotions, could drive improved performance. 63 percent of employees say that they would be more motivated to work for a promotion if they had more clarity on their potential pay and remuneration.

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The Solution to the Struggles of Staffing a Nonprofit Organization

C-Suite Assistants

The Myth of Low-or-No Salary Nonprofit Jobs Of course, one thing that makes staffing a nonprofit organization difficult is the belief among many that most nonprofit jobs are staffed by unpaid volunteers, or that those positions staffed by paid employees don’t offer competitive salaries. They have never considered it as an option.

Salary 52
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Outsourcing Services to Virtual Staff: Is It Worth It?

Productivityist

This is especially true if you own a small business with tight budgets and limited access to capital. The estimated cost of a regular employee including benefits is equivalent to one-and-a-half times the basic salary. Any business, regardless of size or scale, will benefit from outsourcing services. Increase productivity.