More employees are asking for raises and promotions as the need for highly skilled workers rises.

In a new Accountemps survey, 52 percent of CFOs interviewed said that there has been an increase in requests for raises or promotions in the last two years.

One reason for this trend is due to the importance of staff retention, according to Ryan Gatto, senior regional vice president of Accountemps. It's more expensive for companies to train new people, which makes it a smart move to keep current employees happy.

Therefore, employees who have valuable skill sets know they have leverage to ask for a raise or promotion. When doing so, employees need to know their value and if it’s in line with their current compensation.

“They need to take initiative, meaning they need to look for ways to go beyond their current role by volunteering for assignments that challenge their abilities and impact the company’s bottom line,” says Gatto.

“They need to discuss long-term career aspirations with their boss in order to put themselves in a position where their manager or supervisor knows they want to continue to show career progression within the firm.”

Gatto also recommends that if employers can’t provide immediate raises, they should consider offering other perks such as more vacation time, bonuses or flexible schedules.

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