The global job market is constantly evolving. There is a change in the ways of doing jobs. From work from home to shared work space, the list is quite long. Now a new trend is continuously increasing. The name of this new trend is “dry promotion”. What is dry promotion Dry promotion means giving promotion to employees without increasing their salary. In other words, understand it like this, when an employees title changes, the workload increases, responsibilities increase, but no increase in money is received for these changes that come with promotion.Big revealation in new reportA recent report from compensation consultant Pearl Meyer showed that more than 13% of employers chose to give their employees a new title rather than money. According to the Wall Street Journal report, in 2018 this number was only 8%. A survey of 900 companies found that they are paying lower salaries in 2024 compared to 2023.Why it happens Most of the employees are not happy with this new trend going on. This is increasing because companies are focusing on cost cutting measures. These promotions lead the employee towards financial uncertainty. Earlier it used to be that companies facing labor shortage had to offer salary increases to retain employees.Why employees should appreciate dry promotions While dry promotions can increase responsiblities and stress, they provide upside, too. Employees gain valuable managment experience, skill development opportunities, and expanded resumes to aid future career progression. Some staffs even see dry promotions positively as investments in their growth potential. Difference between promotion and dry promotionIn horizontal promotion, the salary and title increase, but responsiblities remain the same. Meanwhile, dry promotion only includes increased responsiblities without additional benefits.
