Your boss gives you that brand new title you’ve been working so hard for…but what’s this? No raise? 🤬 Friends, according to a new trend, we like to call this a “dry promotion.” We can see the tumbleweeds from here. 🏜️
If this is you, it might be time to dust off that resume and get back on that job search horse. 🤠
Here’s Five Fast Facts on dry promotions:
- 🌵 Dry Spell - In a recent report, over 13% of employers surveyed said they gave their employees new job titles WITHOUT a salary increase. That’s up from 2018 when the Wall Street Journal reported this happened in 8% of employers.
- 💵 More for Less - Another survey of 900 companies discovered that employers are setting aside less of their 2024 budgets for promotions compared to the budgets of 2023. *cough cough* Cheapskates!
- 🥵 We’re Parched - While they’re pretty unfair, “promotions” without the cash to back them up are more common in uncertain economic times. Employers tend to crawl into their shells and focus on cost-cutting measures instead. Experts also believe this phenomenon is a sign of a decline in the average worker’s bargaining power.
- 🛒 You Better Shop Around - Want a silver lining? If that shiny new title isn’t worth a fatter paycheck at your current job, it will be at your next one. Slap that new job title on your resume and start shopping around. If your job’s handing out dry promotions, it’s not a good sign for your future job stability, either. It could be a signal of tough times and cuts on the horizon.
- 👊 Fight for Freebies - Can’t bolt from your job just yet? There might be some non-monetary perks you could squeeze out of your company. Ask your boss about extra PTO or a more flexible working schedule to make up for the lack of a raise.
🔥Bottom line: Don’t let a dry promotion get ya down. You’re a star, baby. You’re all that and a bag of chips. Somewhere out there, there’s an employer who will pay you what you deserve…and hopefully more. Wanna learn about remote work trends? This article has all the latest stats.
Have you ever received a dry promotion?
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