ONE IN SIX EMPLOYEES WOULDN’T ASK FOR A PAY RISE
New research from Ceridian has revealed that a staggering one in six employees said they would never dream of asking for a pay rise. Age is definite factor in this it seems, with older respondents more prepared to take the bull by the horns. Just 19% of under 34s feel comfortable asking for a pay rise while 81% of over 35s feel confident asking for extra money.
Men were also revealed to be more direct about asking for a pay increase. Of the eight per cent of respondents who claimed they would negotiate hard for a salary increase, three quarters were men. The survey also indicates that the younger people are the more interested they are in knowing how much their colleagues are paid, with 72% of 18-24 year olds indicating this as opposed to only 29% of over 55s.
We have also proved to be a secretive nation with 53% of us not sharing our salary details with family members. However despite this, the survey of over 1,000 full time UK employees also suggests we are a nosy nation, with 46% expressing an interest in what colleagues earn. Regardless of being so secretive the survey revealed what a nation of hypocrites we really are: around half of the respondents said they would be interested to know what their colleagues earn but 73% wouldn’t tolerate having their salary details disclosed to their colleagues.
Plus, unnecessary exits from organisations could be costing businesses up to £5.14billion in recruitment, with one in 33 respondents saying they would rather leave a company than ask for a salary increase.
Karan Paige, chief people officer of Ceridian UK, the company which commissioned the survey, said: “There tends to be a strong correlation between successful companies and a reward strategy that has the correct balance between fixed and variable pay, with the variable element being strongly aligned to performance. These companies also tend to be better at practising differentiation, so excluding poor performers from bonus payments and disproportionately rewarding great performance.
“Our research also reinforces the importance of performance reviews, and how if managed correctly, these can help retain your top talent as well as saving the business from incurring unnecessary recruitment costs.”
Piers Hollier, a business psychologist at Getfeedback, commented: “Ceridian’s survey shows what a status driven society we have become and in this day and age salary clearly represents status. One of the reasons people might choose not to divulge their salary details with their family could be because it puts a cash value on them. This can especially be the case with competitive siblings.
“It’s not that hard to see why older people aren’t hugely interested in others’ salary. They have learnt what they can expect to earn for certain roles but young people don’t yet have that frame of reference. Equally, older people may be more content with their work-life balance and salary isn’t the only thing on their minds at this stage in their life. This isn’t the case with younger people who are still striving to develop a work-life balance.”
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