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>>They were much older and had no formal education. I was a new hire with a degree. how long were they with the company? it could be age and formal education

by syshum 5y ago

>>They were much older and had no formal education. I was a new hire with a degree. how long were they with the company? it could be age and formal education was not the factor in this situation but rather wage compression. This happens alot with long tenure, as market rates for a position outpace internal annual salaries it does not take long for market wages increasing at 10% annual where internal increase of 3-5% (and some years with pay freezes) cause people that have been with a company for 8 or 10 years to see a massive difference between their salary and what new people start at. It is always why people experience 20-30% pay bumps for changing companies, companies continue to refuse larger annual salary increases, only adjusting the pay when they attempt to find new talent on the market. >>Managers should be actively looking out for their employees. It’s their main priority of retention. HR needs to give them enough budget to keep up with the market and not be greedy. The reality is neither one of these people control this. Senior management sets the over all salary budget. With in that determines what individual can get. If Senior management say on the whole the salary budget can not increase more than 5% then you can not give every employee an 8% raise, you could give some and layoff a few, or you high performers 8% and some 3%, etc... Senior management needs to take retention seriously, most do not There is also a belief that "salary is not everything" and putting in a game room, or having some other "office perk" will retain people for lower costs than increasing their salary.

thenerdhead 5y ago
They were older, but hired less than a year before me. We had the same job responsibilities, same title, and similar qualities of work. I would say that the company preyed on their age & education to low ball them. I knew what I was worth and asked for it and got it. In my experience, it's less senior management and more payroll defining company policy especially at big tech. Senior managers get those pools to work with. Yes there are bonus/merit pools based on performance throughout the groups, but what I'm referring to is the company proactively matching market rate for employees they actually want to retain. Too many people leave purely for compensation and this is well before the pandemic/reshuffled market. Those retention gaps cause so much churn because those responsibilities are now spread throughout the remaining members. It's a cascading problem of not being able to hire fast enough, even at the biggest companies with the best benefits out there. Merit bonuses hardly even keep up with inflation and are disguised as "you doing a good job, here's a 2-3% raise!". It's a winner-take all game even in the most privileged of positions in the workforce. Companies make even some of the best managers immoral by concealing or feigning ignorance about this information. You have to play ball just to get what you want or else you'll be walked over like a doormat.

by syshum 5y ago

thenerdhead 5y ago

They were older, but hired less than a year before me. We had the same job responsibilities, same title, and similar qualities of work. I would say that the company preyed on their age & education to low ball them. I knew what I was worth and asked for it and got it. In my experience, it's less senior management and more payroll defining company policy especially at big tech. Senior managers get those pools to work with. Yes there are bonus/merit pools based on performance throughout the groups, but what I'm referring to is the company proactively matching market rate for employees they actually want to retain. Too many people leave purely for compensation and this is well before the pandemic/reshuffled market. Those retention gaps cause so much churn because those responsibilities are now spread throughout the remaining members. It's a cascading problem of not being able to hire fast enough, even at the biggest companies with the best benefits out there. Merit bonuses hardly even keep up with inflation and are disguised as "you doing a good job, here's a 2-3% raise!". It's a winner-take all game even in the most privileged of positions in the workforce. Companies make even some of the best managers immoral by concealing or feigning ignorance about this information. You have to play ball just to get what you want or else you'll be walked over like a doormat.