Small Biz Ahead
A Podcast By Small Business Owners, For Small Business Owners
1 year ago

How to Handle Employee Raises as a Small Business Owner

Episode Notes

Hey everybody, this is Gene Marks and welcome to this week's Small Biz Ahead podcast from The Hartford. Thank you so much for joining me. One of the issues that have been coming up a lot recently, because I've been getting a lot of these questions from my clients, is about raises. Recently, ADP, the big payroll company, they actually published their national employment report every week and every month, excuse me. And their most recent report from December was reporting that the average employee at a company received a 7.3% salary increase over the past year, the past 12 months. And the average employee who switched jobs received like a 15% pay increase. Now I know what you're thinking, I don't want to give you any ideas, but just so you know, obviously people that switched jobs, got quite the bump - good for the employees in this time of high inflation...

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