2021: No salary increase 2022: No salary increase 2023: No salary increase 2024: No salary increase Employee: Please accept my resignation. Boss: You’re doing great. Why are you resigning? Employee: I accepted an offer with a 95% base salary increase and guaranteed yearly salary cycles as long as I meet my performance goals set by my manager. 48 hours later... Boss: We will match the 95%, please stay, we need your work! Employee: Unfortunately, it’s too late. Friday is my last day. Leaders of organizations need to understand their teams’ motivation every month. Every employee is motivated by different things in different periods. Take care of your good employees before it is too late. #culture #salarynegotiation #founder #leaders #shoes #footwear #footwearleader #farylrobin
It’s easier to match the salary than to change the work culture which is usually the main reason why good people leave. People say they’re leaving for “better prospects” but the truth is that they’d have stayed with a lower salary if they had been treated properly.
No pay raise is an inflationary pay cut. Last 20 years in the UK inflation was roughly 3% A Salary of 35k in 2000 would need to be £56k to have the same spending power in 2020. If you worked for a company for 10 years without promotions starting on £35k. You should be on £45,500. If youve had no pay raises in that time you’ve had the equivalent of a 30% pay cut over that term. This inflationary adjustment should have applied to many government jobs like nurses, teachers and Dr’s but they have had 8-15 years of pay freezes and this is why they are all on strike.
It’s crazy. The last two companies I’ve worked for did this and they wondered why I left. This is why. I over perform and crush goals I set. They make promises they don’t keep like raises or bonuses. They try to skimp out on technicalities that are not transparent. So what I do is put in my mark of 2 years. If they don’t live up to their side of the deal I move on. I fully understand this may look odd on a resume however I have standards for myself that I won’t jeopardize. I have value in myself. Once you get me and keep your promises you get an employee for life. It’s that simple.
I was at this point sometime in my career. I didn't get any salary increment until my 4th year in the company. I completed that 4th year and luckily I got a new offer few months into my fifth year. Boom! My soon to be ex-boss offered me like double of my current salary at the time. By then, my heart was no longer in the company because my new net offer elsewhere was more than 200% of my salary in the company I was about to leave. I mean, why would a manager wait till a supposed valued staff submit a resignation letter before offering such deal? Some managers need to do better!
This post is just a “comment-gatherer” to push up the visibility on LI algorithm. In reality: - context for every employee compensation case matters a LOT - as an employee, I would have left or raised a very significant conversation after the second year. If you can get 95% base salary increase elsewhere, why wait for 4 years? - as an employer, no company or manager is stupid to risk losing high performers by not giving raises (unless in a very bad financial situation). So maybe employees who are not getting a raise already for 2 years in a row should reflect a bit what their added value is and do better?
I have heard "What can we do to get you to stay?" a few times after resigning. My usual response is "If there's something you're prepared to do to get me to stay, why didn't you do it a year ago?" By the time that initial question is asked it is almost always too late. If HR and the management team were doing their jobs properly, they'd make sure nobody wanted to leave.
I always love the "we will match what you are getting there" yeah but I had to threaten to quit to get it. I watched all my fellow employees do it at my last company and told management if I tell you I'm leaving, it's already too late, I'm not going to try and threaten to quit to get more money, if you do that once, you will have to do it every time. It's just not worth it. Find a company that values what you bring to the table!
Once, after 3 years of work, I formally requested a salary increase since I met all my performance goals every year. - No I did it again the next year after excellent reviews. - No I did it the next year, with excellent reviews, plus developed a timeline that reduced overtime by 60%. - No I changed jobs for over $30K pay increase. I would add, companies need to ALLOW managers/supervisors to take care of excellent loyal employees.
Supply Manager Eastman Chemical Company. Driving stakeholder value through long range and finite planning. Ensuring right-sized inventories of quality products for every Customer.
5moOnce it gets to the point that your good employee is asking for a raise it is too late. All the money in the world will not keep him. The “May I have a raise” conversation is a sign of underappreciation for their work. Companies must be honest and fair in sharing the success of the company. I have worked for companies that report record breaking earnings while giving paltry increases to employees. Good performers do not tolerate that.