Are nice emails from bosses on Employee Appreciation Day enough to make workers feel valued? A survey of 30,000 workers has some insights. Hint: It’s not all about pay and benefits.
Some workers might have read a nice email from the boss to start their day, received a surprise gift or spotted a “thank you” posted on the company’s Facebook META, +6.14% page.
The latest inflation rate hovers between these two percentages: the annual inflation rate stood at 6.4% in January. Bottom line: employees want and expect fair compensation for the work they do — and that it’s reflective of their performance, the survey said. “But worryingly, just over half are actually satisfied with their pay and benefits” — 57%, down from 67% a year earlier, it added.
Workers, bosses, investors and policy makers will get another look at the hot labor market for February during next Friday’s jobs report. The economy added 517,000 jobs in January, ripping past economist expectations. Average hourly pay increased 4.4% on the year to $33.03, the Bureau of Labor Statistics said. That rate of growth has eased from an annualized 4.8% one monthly earlier.
But are these types of pay increases enough to make staffers feel appreciated on Friday, and on all working days? It all depends.
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