Inflation is Up, and Employees are Noticing
Are their complaints justified?
In the free text of employee company reviews in Revelio Labs' HR database, we notice a strong and early uptick in mentions of inflation in negative reviews. Employees aren't just mentioning inflation more in general, but are distinctly mentioning it more in conjunction with compensation.
At companies where multiple employees mention inflation in reviews, have average salaries been keeping up with inflation? Turns out, the reviewers were right to complain - their salaries have barely been keeping up with inflation, while other large US companies have kept up.
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This is particularly striking when we only look at salaries for newly posted jobs. While this may be driven by the composition of jobs for which these companies were hiring in 2020 versus 2022, it still paints an interesting picture.
Are fears of inflation related to generally lower employee satisfaction? The answer is a resounding yes: reviews mentioning inflation give, on average, 32% lower scores than other reviews within the same company.
Key Takeaways:
- Mentions of inflation, especially with mentions of compensation in employee reviews, have skyrocketed in recent months, Revelio Labs' HR database shows.
- This is not surprising, as the salaries at companies where employees are particularly unhappy about inflation have not kept up with inflation.
- Employees who worry about inflation are less satisfied with their workplace compared to their peers.
