Workers’ pay rise expectations are riding high, as the cost of living crisis starts to bite
India, May 05, 2022: Workers have high expectations of being given a pay rise and are ready to push their employers to get it, as the cost of living rises sharply for many, reveals the ADP® Research Institute’s People at Work 2022: A Global Workforce View.
More than three quarters of workers globally (76%) say they are likely to ask for a pay rise if they feel they deserve one, according to the survey of almost 33,000 workers in 17 countries.
Women are just as inclined to request a pay rise as men (both at 76%). Those who classify themselves as essential workers are more likely to do so than those who describe themselves as non-essential workers (79% compared to 72%).
In India, 86% of workers are prepared to request for a raise. The findings come at a time when the cost of living is rising rapidly in many parts of the world amid high global inflation which is expected to remain elevated for some time , and following two years of pandemic-related disruption to jobs.
Around six in 10 (61%) workers expect to get a pay rise in the next 12 months and more than four in 10 (43%) expect to be given a promotion. This is despite only a third (34%) expecting to be given any increased responsibility, and just one in seven (15%) who think they will have a formal review.
Overall, workers say pay is the most important factor to them in a job, with almost two-thirds (63%) saying it is a priority, followed by job security (54%), flexibility over their hours (33%) and enjoyment of their work (32%) . The report explores employees’ attitudes towards the current world of work and what they expect and hope for from the workplace of the future.
Rahul Goyal, MD – ADP India, comments: “Many workers believe they are due for a raise after going through the tough phase of the pandemic, and with spiraling inflation creating a cost of living crisis. The vast majority are willing to speak up in order to obtain one.
In today’s tight labour market, where retaining a secure and stable trained workforce is more important than ever, employers should keep this in mind.”
One reason that workers may feel they deserve a pay rise is the number of extra hours of unpaid work many of them are doing, for example by starting early, staying late or working over breaks. On average, workers are working an additional 8.5 hours of unpaid overtime each week. This is less than in 2021 (when the global average was 9.2 hours), but it is still higher than before the pandemic in 2020, when workers did an average of 7.3 extra unpaid hours per week.
However, at the same time, two thirds of workers (65%) say they would like more hours for more pay.