Loyal employees are 'missing out' on raises

Show me more money.
Employers are planning to bump up salaries by an average of 4.6% next year — the most since 2007, according to a new Willis Tower Watson (WTW) survey of 1,550 U.S. companies. More than three-quarters have adjusted or are considering adjusting salary ranges more aggressively, increasing pay ranges by 2% to 5%, according to the survey.
But that may not be enough to keep workers happy. A separate study this week from SHRM Research Institute found that most of the 1,500 HR professionals surveyed said it would take 8% to 10% pay raises to retain workers.
The disconnect highlights the ongoing tug-of-war between employers and employees that started when the labor market roared back from the pandemic last year.

Employers plan largest raises since 2007 — is it enough?