CenturionSounds familiar?
quicksandI don’t get how corporate is so detached that they’re making these policies. I left my last job about a year ago because a competitor offered 30% more. My manager said they could do 3% and, with regular raises, I’d be at that amount in 10 years. I know his hands were tied and he was just grasping at any reason he could come up with to keep me, but that just makes me even more incredulous that companies are crafting policies like this.
I think it’s short sightedness. If you look at the costs over a decade it would be a no brainer to invest in retention, but if you’re only looking at the change in this quarter’s budget then it’s not as clear.
It also sadly risks undeserving employees getting raises and becoming much harder to dispose of, especially in jurisdictions where it’s hard to fire people.
It’s shit. Top talent and young people suffer for it.
And we’re just looking at salary difference with the new hire here. Hiring and onboarding the right person costs.