The Risks of Promoting Without Giving Raises
By PAUL O. LOPEZ
Cash is king, especially during difficult economic times. More and more business owners are thinking out of the box when it comes to trying to keep morale up in the workplace.
Promotions are an obvious way to try to boost morale, especially among key employees who generally are happy to have increased duties and status.
But how can you afford to do so when there is no extra money to provide raises? What if your revenues are way down, yet you cannot afford to lose your key people to the competition?Read More