GE is the original champion of offshoring to the Third World, with the lying excuse "we didn't give them lifetime employment, but gave them lifetime employability." While Jack Welch was given a lifetime pension of $2 million / year upon retirement. He's the same vermin who divorced his wife to run off with the then-Harvard Business Review chick who interviewed him (who, if I recall correctly, slept with him during the interview process). Yeah, what's the labour force participation rate now, you autofellatory scum?
And not GE and its HR flying monkeys are trying to stampede management (who are a bunch of mindless selfish lemmings) into eliminating annual raises ... supposedly to reward the highest performing workers. But really to save more money for vermin like Jack Welch. Notice how underperforming EXECUTIVES never get fired, and get gobs of cash when the leave the company?
you forgot- they pay no corporate taxes, own NBC/MSNBC and, oh yeh, their CEO Jeff Immelt was on obama’s job commission in 2008..
Were you one of the ten percent?
Asking for raises backfires enough it’s not a viable option.
Paltry annual raises don’t address one’s ongoing increasing expenses.
That leaves leaving as the only reliable way to earn more without risk of termination.
Missing is also the growing value of an employee who learns & improves over time.
Have you read this book?
“The Customer Comes Second”
https://www.amazon.com/gp/product/0688132464/ref=oh_aui_detailpage_o02_s00?ie=UTF8&psc=1
Although our parents wanted “jobs for life” with annual raises, my wife and I learned the hard way that corporate loyalty only flows from the bottom up. The only way to get a reasonable raise is to shift jobs.
That said, I fault the current corporate philosophy of paying executives an unjustified amount on the close relationship between CEOs and fund managers. Sadly both stockholders and lower level employees suffer as a result.
If you really look at it correctly, they probably lost the top 10% simply because of Affirmative Action. The best are not hired, therefore, the lowest 10% are worst than you think. As for Gladiator Pit analogy, hiring is based on quotas so White Males compete against White Males, Black females against Black females; Hispanics, Asians el at. men and women within their racial groups are quoted within the diversity of the workforce. I would lay odds that either Asian or White Males are the most competitive of all the groups followed by Asian or White Females; Asians would follow second. Jobs have become mandatory for racial quotas. Today the majority of hiring is going to LGBT to ensure their balance, and for practioners of Islam.
Question: Does anyone know of an Indian (from India) ever replacing an executive? Or all the Indians rank and file.
If an employee's productivity improves by 10% then he/she deserves a 10% raise. If the employee's productivity is the same as it was last year, then he/she deserved no raise whatsoever.
Believe me -- there are very few things more useless in the business world than an employee with 20 years of experience who knows very little more than he or she did when they had 0 years of experience.
You are correct, grey whiskers.
Another case in point is Yahoo’s Marissa Meyer and ex-CEO of HP Cara Fiorina.
There are several others, but that is what gives rise to corporate raiders like Carl Icahn. Icahn recently took over the Trump Taj Mahal (The Donald has been long gone, only the name is left) and is in the process of shaking up the dead wood management.
“And not GE and its HR flying monkeys are trying to stampede management (who are a bunch of mindless selfish lemmings) into eliminating annual raises ... supposedly to reward the highest performing workers.”
You nailed it. When I worked there HR got a few noobs together and offered them the “opportunity for expanded merit raises” if the cola was eliminated. The idiots all took the bait and it applied to the rest of us after that. There were some whopper cola’s under Reagan too. One I remember was $1.30 an hour bump. The last straw for me was when an edict came down that minorities had to go through three levels of management to suffer a layoff.
63 years old, with a record, am Employed as a CAD Engineer refurbishing Semi-Conductor tools for the likes of INTEL MICRON, RFMD. Excellent pay, 401k, UNLIMITED PTO. Why, because I have been drafting for fifty years, doing CAD for thirty years and I am good at what I do. No annual pay raises but we do get bonuses. My last two jobs in AZ were pretty much the same.
When I was working,I noticed that the only time the annual pay raise worked was when you actually got one.
Businesses keep doing things to piss off the public. Its bad enough they no longer offer pensions which now go into the owners pockets and a little left over for 401K contributions.....that’s IF they provide a measly contribution which most don’t now. They pay a whopping 7.25 an hour with no vacation. And they wonder why Americans are ready for revolt. Companies have done it to themselves.
Annual raise has been dead for a long time. Especially in salary country. Annual reviews sure, but they always remind those aren’t tied to salary, the raise cycle happens some other time, and probably you don’t get one.
It’s becoming increasingly Darwinian in corporations. The top performers are retained and lower performers are culled. They’re always laying off. They’re laying off perfectly good employees.