Study Shows 58% Of Workers Want to Get a Pay Raise
Every employee only wants one thing from their work: a high salary or a raise. With the tight competition in the labor market as well as companies competing to attract and retain their highly qualified and competent workers, studies show that around 58% of employers plan to give their employees increased salary by the end of the year.
The Most-awaited Salary Increase
According to CareerBuilder, workers can expect a raise ranging from 5-24% of their salaries worth by the end of 2018. Aside from the midyear forecast, the said website also shares some great news for new job seekers. Nearly 63% of U.S. companies plan to hire long-term and full-time workers in the second half of the year.
The said percentage was up by 3% (from previous 60%) compared to the statistics a year ago. Aside from that, nearly 45% of U.S. companies plan to increase the starting salaries of their workers.
Aside from the said study, another report also includes data from several online surveys conducted during the Summer Season where more than 1,000 hiring managers and another 1,000 full-time employees participated.
The industries and company sizes they’re in also differ from one another so the researchers were able to get a bird’s eye view on the current trends in the labor market. Another piece of good news to the workers and job seekers is the fact that the unemployment rates plummeted down to 3.9% in July, according to the government’s job report.
Turning the Tides
This means that more companies are now struggling and competing to fill in the positions available. Most U.S. companies are now offering attractive salaries, perks, and benefits to attack a pool of available workers according to Novoselsky. The report also enumerated the following perks and the percentage of companies willing to provide these benefits:
- 36% of companies plan to allow their employees to wear a casual dress code.
- 31% of the companies plan to give their workers discount perks.
- 25% plan to allow their workers to work remotely or in their respective homes to avoid the hassle of traffic during peak hours.
- 22% plan to extend their employees time off with pay.
- 21% of companies plan to give a signing bonus.
- 14% plan to offer free lunches while working in the office.
- 12% of the companies plan to give free gym memberships to their employees to help them stay fit and healthy after dealing with hectic schedules at work.
- 10% plan to allow their workers to work from home during Fridays.
- Lastly, only 8% of the companies are willing to provide daycare for their employees.
The survey also found that around 22% of new workers are planning to seek a new job in the second half of 2018. Since employers are trying hard to minimize their turnover rates, they are willing to negotiate to retain their workers. Aside from giving attractive salaries, Novoselsky says companies realize now that they need to ensure employees’ satisfaction by letting them grow financially and professionally.
Tips to Land Your Dream Job
Identify Your Top Skills.
The best way to narrow down your job search is to identify your skills and match them to fit with your career goals. Scott Dobroski of Glassdoor says the sooner you identify your skills, strengths, and abilities, the sooner you’ll know which career path or job titles to take. As much as possible, do not apply for a position that doesn’t match your expertise.
Utilize Online Resources to Search for the Best Company.
Now that you have identified the best job position to apply for. The next step is to identify the best company to apply. And since the survey is already out, Novoselsky says job seekers should take advantage of it and try to find if their prospective companies are already offering attractive salaries with the awesome perks and benefits you want. You can search for credible websites like Whitepages or Glassdoor to do your company search.
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