I'm always amazed how companies are surprised when you resign, even if you have indicated before that you are not happy with certain aspects. And then suddenly a promotion and pay increase is no problem at all. Look at people who are doing a good job, especially if they are 5yrs into it. At that time the compensation starts to lag behind with people who do switch companies. So you either expect them to go or give them some kind of internal promotion and recognition (could be simply by adding "senior" or "principle" to the job title if there is no team lead/management role, some extra money/holidays or a bigger car allowance). A counter offer means that you are late/passive.
The problem increasingly these days that employees don't see is how much it costs to employ someone. Average salaries have increased heavily but the tax thresholds haven't. And employers have to duplicate employees income tax. And with more and more people falling into the 40% tax bracket costs employers typically 120-140% of your salary to employ you. So as much as employees are worried about a cost of living crisis so are employers as theyre getting squeezed too. So unfortunately unless forced most businesses wont up your money unless you force their hand. But additionally the risk is those same employees could be those who get redundancy first so it's swings and roundabouts
@@RevorecRecruitmentSolutions I agree, but there are often tax friendly ways to reward employees. WFH is quite common now, but that can help greatly, especially when commutes are long. Most countries have tax friendly ways to pay for stuff which might be useful, like WFH allowance (for heating/electricity), pension contribution, etcetera. An extra holiday is also a nice reward. But don't be surprised to get the resignation letter if you do nothing...
Hi seb, great to see you back to original format 🙂 Very helpful video as an employee I now know when I go for Interviews to ask more about cpd 😁 I had an Interview last year thry asked me what was my hourly rate/expected salary. Was my first Interview in 6 years. I just said nmw 😅 Another interview for similar job had a starting wage of 18k.so when they asked me what I expected. I just said I had seen the starting point on the job posting and am happy with that. Hard question to answer as don't want to say too high and risk the employer being scared off. In regards to nmw my friend sees it as a companies way of saying. 'if we could pay you less we would' 😅
Thank you. Companies will always try to pay as little as they can, not to be difficult but because profit margins are typically small. However if your value to the business is high then any good business will recognise that. Glad its good and more coming
