Quitting job could boost your paycheck
Finding a new job may be the only way to get a big pay raise, according to a new research. The study also revealed companies withheld employees' promotion in favour of someone from outside the organization - who often gets paid more. But it turns out that external hires don't do nearly as good a job as people who are promoted from within. It indicated that companies might be better off hiring or promoting from within, Live Science reported.
"Companies should understand that it can often be harder than it seems to bring in people who look good on paper," said Matthew Bidwell, management professor at the University of Pennsylvania's Wharton School of Business and author of the study. "In addition, there is a suspicion that 'the grass is always greener' attitude plays a role in some companies' desire to hire from the outside. Managers see a great CV and get excited about playing 'Let's Make a Deal,' even when it's hard to know what weaknesses the external hires bring with them," he stated.