Companies have options. In addition to raises, businesses can offer bonuses, stock options and other forms of remuneration. In a January 2022 survey conducted by Gartner of 71 companies, around 37% of organizations self-reported that they are planning to consider inflation with. Unfortunately, only 13% intended to raise the compensation for all employees, due to rising inflation. Since that time, inflation has continued to rapidly increase.
of 4% or more this year, and a plurality of organizations are growing their salary merit-increase budgets by 5% or more." While it's good to see that action is being taken, the single-digit increases may not be sufficient.By now, it should be glaringly obvious to business leaders that inflation is taking a big bite out of their employees’ paychecks. For many people, it feels that they are earning less money, as the dollar is devalued and losing its purchasing power.
If a person is allowed to work remotely, they won’t have to commute, which will cut down on costly gasoline consumption. If they take mass transit, which is expensive, there will be a reprieve on those expenses as well.