Requests for Pay Bumps and Promotions Increasing

If managers are not already fielding requests from employees for raises and promotions, they soon may be, a new Accountemps survey suggests.
An improving economy and higher demand for skilled workers means professionals are more confident in their job prospects and on the hunt for bigger paychecks and loftier titles.
Forty-three percent of chief financial officers interviewed said the number of requests for raises or promotions has increased from two years ago.
The survey was conducted by an independent research firm and is based on interviews with more than 2,100 CFOs from a stratified random sample of companies in more than 20 of the largest U.S. metropolitan areas.

Findings

CFOs were asked, “Has the number of employee requests for promotions or raises increased or decreased compared to two years ago?” Their responses:

• Increased: 43%
• Stayed the same: 44%
• Decreased: 11%
• Don’t know: 2%

“Employers must be proactive and closely scrutinize compensation levels to stay competitive and keep good staff,” says Bill Driscoll, a district president with Accountemps. “It’s better to be prepared than surprised by an employee’s request for a raise or promotion.”