Dry Promotion is the trend which companies are trying to opt to satisfy employees apart from Monetary Benefits.

Dry Promotion: The new financial year has started and the month of April is coming to an end. Usually, in the month of April, there is appraisal or increment time in companies and employees wait a lot for it. Words like promotion, increment, appraisal, role change are currently floating around in the offices.

What is 'dry promotion'?

Nowadays such a scenario is going on in the job market that employees are eager about promotion but are not confident. The reason for this is that nowadays a trend called 'dry promotion' has started. Now you will ask, is this dry promotion after all? Know that dry promotion is a situation where an employee is rewarded by increasing his post or designation but the salary is either not increased or a very nominal increase is made.

Therefore, your post changes, your work objectives change and your office responsibilities also increase, but in terms of money, it is not much. According to planning advisory firm Pearl Meyer, data shows that the situation of dry promotion is becoming more common these days as companies manage their talent on a low budget.

What does Pearl Meyer's data say?

According to this, this year 13 percent of the firms said that they want to satisfy their employees by giving them new job title or new position to give incentives or rewards when they have limited scope to increase the money. This figure was 8 percent in the year 2018, which has now come down to 13 percent. According to the report of Wall Street Journal, this has come to light.

Dry promotion is a sign of economic uncertainty

In times of economic uncertainty, dry promotion is more common. Companies increase the position or responsibility of their employees by not increasing their salaries or by increasing them marginally. This may not provide monetary benefits to the employee but it gives him a feeling of being important. Often this happens when companies first increase the salaries of their workers to retain them, but later, in the event of not giving equal salary hike to the employees, they want to run their business only by increasing their designation or designation.

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