Wage stagnation and career. causes and effects

Though the professional world across the spectrum offers greater possibilities for the employed (people) to better their career prospects, of late, great many are found to be facing what is called wage stagnation, a condition where employees happen to work for longer periods with no raise in their remuneration.  

·        What do you think are the causes and effects of this professional condition? 

Today, it is possibilities all the way for the working in their corresponding career worlds. This fact notwithstanding, there is wide-spread wage-freeze for great many. This condition, obviously, has got its own causes and effects.

Wage stagnation happens in many ways. Primarily it is due to the frequent down-turns happening around the world. For example, recession is much more common today, and many organizations go volatile depending on the fluctuations in banking instruments. When banks of the richer world call it a day, the professional world may go stagnant leaving the staff in the lurch.

The second thing is that many employees have ceased themselves to be asking for more. This is due to many factors. Basically, they know that a demand for a raise may put their current job in jeopardy. Secondly, the employees know that there are great many people out there prepared to settle for less. No wonder, there is wage stagnation.

The effects of this condition are many. Falling morale of the employee is the biggest loss, and the same would take the performance graph of the organization to newer lows. Secondly, there will be an impression that the economy is going to in shambles and the working class may go reluctant spend what they earn.  Besides all these, we cannot rule out the possibility of many people leaving their regular job for something on  their own. In richer parts of the world, several professional people find it better not to be in-job than working for stagnant pay.

What causes wage stagnation, in short, may vary depending on industry conditions, but the effects of which are likely to have lasting sluggishness across the world. This is a grave concern which needs to be addressed seriously.  

285 words. Ajaypeesdoc.

18.1.15