Feeling undercompensated - Deepstash

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Feeling undercompensated

Feeling undercompensated

When someone on your team asks for a raise (assuming they're deserving), but you don't have the budget to increase their pay, can you give someone a promotion to keep up their morale?

Just saying "no" to a pay raise or lying to them and saying it could happen in a few months will likely not end well. Instead, redirect the conversation toward the real cause. If you can fix that, you will have a greater impact.

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You may be unable to increase their financial compensation, but you can instead focus on providing them with career growth. Studies show that growth is a significant perk people want at work, even more than money.

If you are transparent about your company's financial situation, when raises are considered, and your limitations, your employee looking for a raise will be more willing to wait.

The best way to find out why someone wants a raise is to ask them.

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