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PEOPLE WANT MONEY

24-Jul-2021

If you want to keep employees from jumping ship, you may have to loosen the pursestrings a little.Reason: A recent study found that the vast majority of U.S. employees (81%) are dissatisfiedwith the salary and benefits their employers are offering. And their unhappiness has a lot ofworkers considering asking for a raise or finding a new job.In January, Indeed conducted a survey of over 1,000 employees across the U.S. to see whatexactly workers want in terms of pay, and how they intend to discuss it.

Only 19% of respondents were comfortable with their current salary. While not everyonehad a number in mind, 60% of employees said they wanted at least an additional $6,000 tobe satisfied with their salaries.Now, that’s a big jump, and a raise that high isn’t an option for a lot of companies. But thesurvey also found that 68% of employees would be willing to accept more benefits in theplace of a salary increase.

The most popular benefits were:

• Healthcare benefits (36%)

• Flexible work hours (35%), 

• More holiday leave (34%).

Forty-seven percent of respondents said they would either definitely or possibly ask for araise this year, and nearly half of them plan on asking for a 6% to 10% increase. The surveyalso found that men were much more likely to ask for a higher raise than women.About 40% of employees said they want higher pay to combat the high cost of living. Butthe majority, 60%, simply say that based on their performance, they’ve earned it. Fortypercent of respondents also noted they have recently been given extra responsibilities, but

no raise. About 20% feel a raise is overdue, or believe they are underpaid compared to theircolleagues.More than half (54%) of employees would consider changing jobs if that meant a payincrease. And the main reason for this comes down to how long it’s been since theiremployers have given out raises.The average length of time since respondents had a pay raise is 17 months. Seventeenpercent of employees have never received a salary increase at their current company.Of course, none of this is very surprising.

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