The problem is that Jericho is not a long term superstar for the company. He basically signs short term deals, for 2-3 months at a time, which make it hard for him to get a serious push. We'll all be very excited if Jericho was to get a push for the WWE/WHC title, but its not going to happen until he joins for 6-8 months, unless they want to make him a transitional champion.
Seeing as he's more involved with Fozzy than WWE at this point of time, the company tries to make full use of his Legend status to try and put over superstars.
This current stint has been close to six months
First and Current PWR Breakout Champion since 17-05-15
Two Of A Kind Kid Wonder and 'Mad Dog' Paul Conrad
PWR Tag Team