More Companies Offer Promotion Without Giving The Pay Raise
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PHILADELPHIA (CBS) — A new trend in the workforce shows that more employees are getting a promotion without a pay raise.
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A new survey by Robert Half, a consulting firm, found the number of employers engaging in the process increased by 17-percent since 2011.
Some employers say they only give out pay raises once a year or for specific job titles.
The research shows that 39-percent of HR managers say it is common for the company to offer a promotion without a raise and about 64-percent of workers said they were open to taking a new title without a pay raise.
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Other employers say they make small changes in millennials' job titles to satisfy their craving for feedback.
More than 300 HR managers participated in the study showing that this new workforce trend is not so pleasing to the wallet.
