What’s not Experiencing Inflation: Pay Raises

What sounds better to you — a 3% raise or a 30% raise?

Curiously enough, despite rampant inflation and the incredibly competitive war for talent, HR Dive reports that many companies aren’t offering competitive pay raises.

They might be offering 3%, which in normal times would be a substantial pay increase. But right now, employees can move to another company and make a cool 30% more than their current salary. Depending upon the circumstances – perhaps even more.

A lot of CFOs are banking on the effects of the pandemic coming to an end and things “normalizing” in terms of the record quit rates and number of open jobs. And they might be right. But it’s a gamble.

In the meantime, job seekers are in a great position, and a lot of job seekers I speak to believe now’s the time to change jobs.