You may have received a promotion without a pay raise, but you should know your rights. While it may not be ideal, it can still be a great way of building your resume and rewarding you for your hard work. Additionally, it can cause burnout. Before accepting a promotion, make sure you understand all implications.
For HR managers, getting a promotion is easy without a raise.
A study by OfficeTeam found that 39 percent of HR managers believe it is common to get a promotion with no pay raise. This is an increase from 2011's 17 points. Lindsey Pollak a career expert says that getting promoted without a pay rise can be good if it aligns well with your long term career goals.
However, not every promotion comes with a salary increase. 39% of employers grant promotions without paying a salary increase. This is because employees often resent being promoted and want a higher salary. This trend can be countered by reviewing the practices within your company.
It can help you build your resume
You can still build your career with a promotion that doesn't require a salary increase. Not only will it add a new title to your resume, but it will also expand your perspective and help you clarify your career goals. But, before you accept the promotion, make sure to do thorough research. Consider whether additional work is worth the potential rewards.
Companies try to make savings and fill open roles by offering promotions without raises. Employers expect their employees to perform at higher level for less money. It is vital to explore new opportunities and acquire new skills when faced with these conditions. You can always revisit the compensation offer at a later date.
It can lead to burnout
The benefits of a promotion over a raise are worth considering. You should consider how much equity you have in the company, what are the best benefits for you, and whether or not you need additional support. It is important that you can articulate your achievements and the opinions of others.
Burnout is a serious problem in the workplace, and you should seek to prevent it. You can encourage your employees to take a break by setting boundaries within the workplace. You should also encourage them to take vacation time. It is possible to become burnout from the digital never-ending culture. It is essential to create healthy boundaries, and a supportive management program, in order to fight burnout. Avoiding burnout can be difficult, so practice is necessary.
It can be a good way to reward you for a job well done
There are many rewards for hard work. It is not difficult. While some companies have strict guidelines about raises, others don't. If a promotion does not include a salary raise, the company might reward you with additional responsibilities or a bonus. Promotions that don't include a salary raise could include an annual bonus and extra vacation days.