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After investing long days, months, and years in the hope of a promotion, you finally receive it. However, it’s different from the rewarding leap you anticipated. Instead, it’s a dry promotion—a mere change in title with added responsibilities but no pay increase. Companies often resort to dry promotions to retain hardworking employees without increasing pay. While it may seem like a step up on paper, it’s primarily a tactic to prevent employees from seeking better opportunities elsewhere. This article dives into why companies are doing this, whether you should accept the promotion, and why a promotion should come with higher pay. Why Are Companies Doing This? There are different reasons why a company might function this way, but all of them indicate a lack of true appreciation for their employees’ performance. Some may argue it’s due to cost and the need to maintain a balanced budget, but that’s often just an excuse. In reality, dry promotions are a way for companies to get more...
Job abandonment refers to a situation where an employee, without any notice or communication, fails to report to work for an extended period. It is considered a voluntary resignation, as the employee is essentially abandoning their job responsibilities without formally resigning. There is no law establishing what amount of time is considered job abandonment; every employer must establish it based on their own terms. In most cases, organizations have policies and procedures in place to address instances of job abandonment. These policies may include specific steps that the employer takes to attempt communication with the absent employee, such as sending emails, making phone calls, sending letters and more. If the employee fails to respond or provide a valid explanation for their absence within a specified timeframe, the employer may consider the employee to have voluntarily resigned. Job abandonment can have consequences for the employee, such as losing employment benefits or facing...
Your resume is a first impression for an employer. If you are a recent graduate or a career professional just starting out, you should aim for a resume that works to your advantage. We are aware that resume building is a skill that is not always taught in colleges and universities. To put you in better standing on the job market, we spoke with Matthew C. Meade, a financial services executive with experience working with Fortune 100 companies, about tips to ensure your resume is up to par.