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The Definition of “Raise”

23 April 2013 by Laddie F. Hutar

Today, we are giving
another term from our book, “How to Understand Your Job Better:
Hutar Job and Business Terms,” available for sale here
on the website
.

 

Raise

Raise refers usually to an increase in pay. A raise can be for merit, accompany a promotion or be a cost of living increase. A cost of living increase is realizing the effects of inflation on the individual’s ability to meet his obligations. It is usually applied by percentage and to all employees (across the board) and may be spelled out in a labor contract. A merit increase or raise is a way of recognizing achievement. by becoming a more valuable employee, the worker is worth more money to the company. A raise accompanying a promotion is a way of recognizing the dollar value of the increased responsibilities.

 

Questions for Reflection:
If you’re an employee, under what conditions do you get a raise at your job?
For employers, under what conditions do you give raises to your employees?
How is this different than what the general public perceives about receiving raises?

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