“Organizations giving dry promotions are many times unknowingly boosting the resumes of their workforce,” Lyons-Ryle told FOX Business.
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“The new title bestowed upon an employee provides them with the opportunity to look elsewhere for the same position with a higher salary.”
How can businesses reassure employees that they have their back?
Michelle Reisdorf, district president for Robert Half based in Chicago, Illinois, advised that employers put in writing that they and/or the employees plan to revisit the salary or raise conversation when circumstances change.
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“Retention is essential in today’s still-tight job market,” Reisdorf said.
“Make clear to your top performers that you value them, you are dedicated to their growth and have plans to compensate them accordingly when the time is right,” she said.
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