Matt Zajechowski https://elementsgs.com 1m 239 #covid19
Sign Up For An Account To Start Posting Your Own Confessions!
The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
Survey: Employee compensation trends for 2021
The COVID-19 pandemic has disrupted employee compensation across the globe with many employees reporting that salary has yet to return to pre-pandemic levels.
Elements Global Services surveyed 2,200 current employees from the US, Canada and the UK to explore pandemic-related trends in job compensation, feelings on executive pay and what percent pay raise would compel employees to leave their current jobs.
Here’s what they found:
- 65% of Americans surveyed say their income either stayed the same or fell in 2020.
- Top reasons income decreased in 2020: 1. Took a pay cut (39%) 2. Lost my job (29%) 3. My income is variable (24%) 4. New job with lower pay (8%).
- 55% of Americans who had income cut due to the pandemic say it has not yet returned. 46% say their employer froze raises and/or bonuses during the pandemic.
- On a positive note, 55% of those surveyed say they expect to make more money than last year. 37% of Americans say they would accept a portion of their compensation in Bitcoin if offered.
- When asked what minimum raise would compel you to leave your job: 20-25% raise (35% of respondents), 10-15% raise (34% of respondents), 50+% raise (16% of respondents), 5% raise (15% of respondents).
- When it comes to negotiating salary: 51% of respondents have talked about salary with their employer 1-2 times in the past two years. 29% said they’ve had zero communication about salary in the previous 24 months. 20% have talked about it 3+ times in the same time period.
Take a look at the full report.
(