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Dry promotions: Definition, considerations, and guidelines for employers

Business Management Daily

However, some of that excitement is probably due to the pay raise that they expect will come with the promotion. But sometimes employers offer promotions without an increase in pay, a growing phenomenon called dry promotions. They are looking to get more work out of the employee without providing a pay raise.

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10 Unique Extrinsic Rewards That Your Employees Will Love In 2023

Vantage Circle

Definition Of Extrinsic Rewards. The survey also found that 80% of employees would choose additional benefits over a pay raise. Not just salary. Paid Time Off (PTO). Offering paid time off— or PTO— can be a great extrinsic reward for those companies. Life insurance. Disability insurance.

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15 Insanely Fun Peer-to-peer Recognition Ideas That Sparks Joy

Vantage Circle

Can Peer Recognition Be As Effective As A Pay Raise? Pay raises are always going to be big reasons why a top talent accepts or leaves a job. When you focus on salaries alone, you might end up with a team that gets the job done. Do remember that you need to moderate such sessions actively.

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