Many companies are taking measures to increase pay equity among workers, research from talent solutions and business consulting firm Robert Half shows. More than half of C-suite executives surveyed (56%) said they have observed salary discrepancies between new hires and more tenured staff in the past year. Of those, 62% are regularly reviewing compensation plans and increasing salaries for existing employees, when appropriate, to align with current market rates.

Robert Half research reveals how companies are addressing pay compression.
Robert Half research reveals how companies are addressing pay compression.
Robert Half research shows what workers will do if they don't get a raise this year.
Robert Half research shows what workers will do if they don't get a raise this year.
"Market conditions have shifted dramatically, and savvy employers are stepping up to address salary gaps and ensure all employees are being paid fairly," said Robert Half senior executive director Paul McDonald. "They know that taking a cautious 'wait-and-see' approach on compensation is risky and can lead to the loss of great talent."

Workers Expect a Raise
There are several factors at play when it comes to wage growth, and employees' expectations are among them. In a separate survey of more than 1,000 U.S. workers, one-third of respondents (34%) said they have not had a raise in 12 months and another 16% received one but were disappointed with the amount. In addition, nearly two-thirds (62%) plan to ask for a raise this year, with the top reasons being:

To adjust for the higher cost of living (30%)
To reflect current market rates (23%)
To account for additional job responsibilities (22%)
If workers don't get a raise:

31% will ask to revisit the salary conversation in a few months
27% will look for a new job with higher pay
23% will ask for more perks