I recently came across a survey finding that astounded me: Two-thirds of employees said they won’t request raises this year. Further, 40% of those employees said they haven’t received a “meaningful” raise in more than two years, and half of them said that given the current job climate, they’re afraid to rock the boat by speaking up.

If your employees aren’t engaging in compensation conversations as the year-end approaches, it might not be because they’re content — they may be cautious or, worse, afraid. That silence could mask dissatisfaction, disengagement, and even the latent risk of turnover among high-potential people. After all, these individuals may feel undervalued but lack the confidence to bring it up.

This got me thinking about ways organizations can ensure their employees feel valued — and compensated — appropriately this time of year. A few key strategies might be:

• Don’t wait for employees to ask. Proactively reach out — especially to high performers — to assess satisfaction, workload, and growth opportunities. Without proactive check-ins, you may miss early signs of disengagement or burnout.
• Make use of non-cash rewards. According to experts at Korn Ferry, when raises aren’t possible, perks like learning opportunities, special project assignments, visibility, mentoring, or broader benefits like health coverage, can go a long way.

• Communicate clearly and often about compensation philosophy. Transparency about how pay decisions are made, even when budgets are tight, helps build trust. Skipping this step can leave employees guessing about their value.

For employers who care about retention, productivity, and culture, assuming “no news = all good” is a risky bet. What are some of the ways your organization is planning to recognize and reward your people this season?good” is a risky bet. What are some of the ways your organization is planning to recognize and reward your people this season?