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Last week, Starbucks also informed the workers that they should expect smaller payraises this year in light of the financial results it witnessed through 2024. Earlier, senior workers could expect a 3% raise with those with more than 5 years of experience in line for a 5% raise.
The survey also found that 80% of employees would choose additional benefits over a payraise. In fact, a survey on job satisfaction and engagement from SHRM found that: A vast majority (92%) of employees reported that paidleave is important to their overall job satisfaction. Not just salary. Profit-sharing Plans.
Variable pay. Supplementary pay. Paidleaves. Variable pay - Also called ‘pay at risk,’ this part of the salary package has to be ‘earned’ by meeting or exceeding certain defined criteria. Only hard work pays off! Overtime wage. Health Insurance. Retirement benefits.
Take tech giants like Google for instance; they famously provide their staff with free meals, gym access, unlimited paidleave time amongst other perks resulting in lower turnover rates compared to average technology firms.
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