My company recently had a series of townhalls related to a re-org that included a few different open Q&A sessions. I'd estimate that 70-80% of the questions related to what the company was going to do to address current salaries, particularly vis-a-vis inflation. The questions were largely deflected (which is probably okay given the context) but there is very little urgency to do anything outside of the normal review cycle.
Attrition is starting to get bad and I don't really see what harm there is in doing something off-cycle. There is effectively a black-swan event going on where you have record-high inflation coupled with low unemployment and a substantially more demand for workers than there is supply. The move to remote has also shifted the opportunities for tons of folks who lived outside of major urban hubs, allowing them opportunities that were never previously available to them. Why wouldn't such a rare event result in rare proactivity?
I've changed jobs twice since the pandemic hit, resulting in about a 50% increase in compensation. I'm almost certain to change jobs again soon and will then be closer to doubling my salary from where I was in March 2020. In none of these job changes have I seen any serious plans by the companies to address salaries with a broad brush.
In none of these job changes have I seen any serious plans by the companies to address salaries with a broad brush.
Because it's cheaper to do nothing and grit your teeth and hope that the employees don't revolt.
What's really awful are the companies that proceed to do nothing while bragging that they had an excellent year revenue-wise. It's like they think employees don't actually pay attention to the company press releases and marketing drivel.
If they brag about +20% revenue and your paycheck goes up +1.5%, expect a revolt.
Attrition is starting to get bad and I don't really see what harm there is in doing something off-cycle. There is effectively a black-swan event going on where you have record-high inflation coupled with low unemployment and a substantially more demand for workers than there is supply. The move to remote has also shifted the opportunities for tons of folks who lived outside of major urban hubs, allowing them opportunities that were never previously available to them. Why wouldn't such a rare event result in rare proactivity?
I've changed jobs twice since the pandemic hit, resulting in about a 50% increase in compensation. I'm almost certain to change jobs again soon and will then be closer to doubling my salary from where I was in March 2020. In none of these job changes have I seen any serious plans by the companies to address salaries with a broad brush.