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If management doesn’t offer raises or equity to keep total comp in line with market rates, they are knowingly risking attrition.
by erik_seaberg 4y ago
If management doesn’t offer raises or equity to keep total comp in line with market rates, they are knowingly risking attrition.
- koonsolo 4y agoSounds reasonable, but in practice (at least in Belgium), practice seems otherwise. If you want to make a big jump money wise, you have to switch jobs. That's what I see in practice. My theory is that people are reluctant to switch jobs and so companies count on that fact and pay less. And so to motivate someone to switch they need extra money.
- badpun 4y agoMost companies prefer some attrition to keeping everybody up to date with the crazy run that the software eng market has been in the past 10+ years. Reality is, if your company is good place to work at otherwise, most people won't start looking for a new job only because it could pay 20-30% more. And, at the same time, in many companies payroll is the biggest cost, so if you can keep it lower by that 20-30%, it will have huge effect on the bottom line.