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This isn’t the first time the American multinational investment bank and financial services has raised wages. In 2017, BoA raised its minimum wage to $15 an hour. Two years later, it announced it will pay $20 an hour over the next two years. BoA achieved that goal in 2020 – a year earlier than expected.
Examine payraise alternatives. If you can’t afford a payraise but want to show a deserving employee you value their work, you have options. Consider offering a payraise alternative, like a bonus, more paid time off , or flexible scheduling. Many employers opt for payingbonuses to employees over raises.
Still, money can be effective to express appreciation: a survey by Harris Interactive and Glassdoor revealed that 75% of employees consider a payraise as a form of appreciation. Achievers’ platform is a good example of alternatives to cash bonuses. The value of incentives to motivate employees has been debated for long.
Still, money can be effective to express appreciation: a survey by Harris Interactive and Glassdoor revealed that 75% of employees consider a payraise as a form of appreciation. Achievers’ platform is a good example of alternatives to cash bonuses. The value of incentives to motivate employees has been debated for long.
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