Close up view of office worker receiving salary from boss. Photo: Pormezz/Shutterstock
A new report suggests that, for many workers, salary raises are not keeping pace with inflation. According to a recent study by software provider Bamboo HR, which looked at 1,000 full-time salaried employees in the United States, more than one-third of all salaried workers haven't gotten a raise within the past year. The same study also shows that salary is highly important to employees' mental health, and can be a major factor in incentivizing them to stay at an otherwise undesirable job.
"No matter how fulfilling a job is, salary is significant," says BambooHR head of HR Anita Grantham. "Our study uncovered how employees really feel about compensation and what HR leaders can be doing differently when it comes to salary transparency and total compensation. Understanding these trends has never been so important as employers focus on improving employee engagement and retention."
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