New Job Trend Causing Concern: A Deep Dive into “Dry Promotion admin, April 14, 2024 The ever-evolving landscape of the global job market has seen several trends over the decades. From work from home to shared working space, the list is endless. Now, we have a new phenomenon that is quietly gaining prominence – “dry promotion”. Dry promotion refers to the practice of bestowing employees with a job promotion with no increase in salary. In other words, while your title changes, your workload grows, and your responsibilities increase, you do not receive any monetary compensation for these changes that the promotion brings with it. A recent report by compensation consultant Pearl Meyer revealed that more than 13% of employers chose to give their employees new job titles instead of money. While most employees may not be thrilled by this trend, the growing practice is also considered by experts a reflection of the average worker’s diminishing bargaining power. These promotions tend to become more prevalent during periods of economic uncertainty with companies focusing on cost-cutting measures. Earlier, companies faced with labor shortages were often compelled to offer substantial raises to retain employees. However, the trend of dry promotion has come at a time when some employers are redistributing the responsibilities of laid-off workers to existing staff members without increasing their compensation. Evidence of the trend is also visible on social media, with several employees sharing their experience with such offers. For example, in a Reddit thread shared last year, a user revealed that their manager told them that since they work more than a junior usually does, the management had “decided to get rid of the junior in my title”. Leverage this new title bump to make a lateral move at another company. Run away as fast as you can.” “The title is not the recognition. The salary increase is the recognition. The only way to make big jumps in salary and at market value is to go somewhere that’ll pay you more. If you stay where you are, they’ll only incrementally give you pay raises… then after 5 or 6 years, you are below market rate,” explained another user. If you are not in a position to look for a new job, some also suggested that employees might request flexible working schedules, extra paid time off, or additional benefits to compensate for the absence of a raise. Employment Trends